My household continues to make faithful decisions about how we can address the rising global food and fuel costs. We try to eat more intentionally – eating simple meals, eating more vegetarian meals, and eating food grown locally. We try to use fuel more intentionally – opening the windows, carpooling, walking and busing. However, what do those who live on the margins do? For example, Haiti is paying about $1 million per week to development banks as the people starve because they cannot afford food. There is, however, something we can do!
Jubilee Act Legislation is scheduled for a markup in the Senate! As people worldwide are struggling with rising food and fuel costs, this legislation is extremely important.
The Jubilee Act for Responsible Lending and Expanded Debt Cancellation (HR 2634/ S 2166) has been scheduled for a committee markup and vote during the Senate Foreign Relations Committee business meeting on Tuesday, June 24, 2008. If the bill passes committee, it will be considered by the full Senate.
This legislation would expand debt cancellation to impoverished countries that need it to fight poverty, promote responsible lending, and require an audit of onerous loans. Debt cancellation for nations plagued with deadly poverty has proven to be an effective tool to fight poverty because it frees up critical financial resources for developing countries to reinvest in poverty-reduction programs.
The bill passed the House of Representatives on April 16. Take Action today! Contact your Senators and urge them to co-sponsor the Jubilee Act. For more information on this legislation and other debt-reducing programs and projects visit Jubilee USA Network.