GREEN ACT BENEFITS NO BANKS. APPLIES EQUALLY ACROSS THE BOARD

Ryan Frazier is lying about Ed's record by citing a misleading, false Washington Times article implying Ed tried to help a bank in which his family owned a small amount of stock.  His claims are false and Ryan Frazier should stop telling lies to the hardworking people in the 7th CD.

Truth: The provision cited by the Washington Times did not help or benefit any bank or Perlmutter.  

  • The provision applied across the board and encouraged ALL banks, at their choice, to set up a “library” to give people information about how to make their homes and buildings more energy efficient.

  • The provision was sponsored by Rep. Paul Hodes – not Perlmutter.

  • The provision is a small part of the GREEN Act (Green Resources for Energy Efficient Neighborhoods) Act, sponsored by Ed and Republican Judy Biggert (IL).  The GREEN Act was originally introduced in the 110th Congress on 5/15/2008 (HR 6078).  In that bill, the provision referenced is found in Sec. 25, P. 80-85.  In the 110th, HR 6078 passed out of the Financial Services Committee by bipartisan support on a voice vote on 7.31.08.  HR 6078 was amended into HR 6899, the Comprehensive American Energy Security and Consumer Protection Act, by Rep. Nick Rahall, which passed the House on 9/16/08 – which the Senate failed to consider.

  • In the 111th Congress, Ed and Rep. Biggert re-introduced the bill (HR 2336).  The provision cited by the WA Times was found in sec. 24, P. 78-83).  A hearing on the GREEN Act was held in Financial Services Committee on 6/11/09 and 6/16/09.  The bipartisan GREEN Act was amended into the American Clean Energy and Security Act of 2009 by Rep. Henry Waxman, and passed on 6/26/09.

  • Ed did not “sneak” any legislation in.  On the contrary, it received no less than 3 hearings and 3 votes by members of Congress.  Since the ACES bill passed, the Financial Services committee passed the GREEN Act as a stand-alone bill on 4/22/10.

  • Ed owns a small part in a family partnership trust account that other family members control.  The family partnership owned a small amount of stock in the New Resources Bank.  The family partnership sold the partnership shares in New Resources Bank months ago.