ONE Applauds House for Passing the Jubilee Act

Washington D.C. –  Today, the House of Representatives voted in favor of relieving impoverished countries from debt incurred by previous, often corrupt, regimes by passing the Jubilee Act (H.R. 2634) with a convincing 285-132 vote.  The bill, introduced in the House by Rep. Maxine Waters (D-CA) and Rep. Spencer Bachus (R-AL) in June 2007, would push for an international agreement to write off United States’ loans to qualified countries and urge the U.S. to work with other rich nations to do the same. The money poor countries would have had to pay to debt would be directed to infrastructure development, education and health care, among other improvements.

“Congratulations all around for the hard and fruitful work we saw today on Capitol Hill,” said ONE President and CEO David Lane. ”Congresswoman Maxine Waters and Congressman Spencer Bachus have been tireless champions for debt relief over many years. This bill is the next important step in that success story. We call on the Senate to take quick, favorable action.”

Full: http://appablog.wordpress.com/2008/04/16/one-applauds-house-for-pas...