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Inside Washington (10/03/2008)
* WASHINGTON (10/6/08)--The New Markets Tax Credit Program has been extended through 2009 as part of the Emergency Economic Stabilization Act, signed into law Friday. The package authorized $3.5 billion in new tax credit allocation authority to encourage further investment of new private sector capital into distressed communities. Credit unions and other non-profits may apply for the credit, but must be certified first as a Community Development Entity (CDE)… * WASHINGTON (10/6/08)--C-SPAN Television cameras videotaped Friday morning's installment of the 2008 presidential election "Power Breakfasts," organized by National Journal. The Credit Union National Association (CUNA) co-sponsors the series.
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More than 150 congressional staffers attended Friday's event, which focused on the previous night's vice presidential debate between Democratic vice presidential candidate Sen. Joe Biden (D-Del.) and Republican vice presidential candidate Gov. Sarah Palin of Alaska. Ronald Brownstein, political director for the Atlantic Media Co., moderated the panel. The event happened at Union Station in Washington, D.C., and featured: Michael Feldman, former senior adviser to Vice President Al Gore; Stan Greenberg, Greenberg Quinlan Rosner; Neil Newhouse, Public Opinion Strategies; and Sara Taylor, former White House political adviser to President George W. Bush. (Photo provided by CUNA) ... * WASHINGTON (10/6/08)--The federal government could receive more “bang for its buck” through a provision in the bailout plan that would allow the Treasury to give enhancements and credit guarantees on loans, according to Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair. The provision would allow the government to stabilize home prices and increase the number of loan modifications at a lesser cost, she added. Bair supports the $700 billion plan, which was approved by the House and signed into law by President Bush Friday, but said the provision could be used as a less expensive alternative (American Banker Oct. 3). The plan raises deposit insurance to $250,000 per depositor at each institution. Coverage is in effect through Dec. 31, 2009 ... * WASHINGTON (10/6/08)--Rep. Jason Altmire (D-Pa.) commended credit unions for helping average working Pennsylvanians on Pittsburgh’s business talk radio show, WMNY 1360 AM Thursday (Life is a Highway Oct. 3). Altmire called into the show to praise credit unions. Also on the show were Jim McCormack, Pennsylvania Credit Union Association president/CEO, and Ralph Canterbury Jr., vice president of technology, Clearview FCU, Moon Township ...

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