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Taxpayers Call on Congress
Stop Unconditional Debt Relief
WASHINGTON -- The Center for Individual Freedom (CFIF) announced that its supporters and activists, along with other concerned taxpayers, have sent nearly 30,000 letters to Congress urging their Representatives to vote against H.R. 2634, the Jubilee Act for Responsible Lending and Expanded Debt Cancellation.
The collective voices of thousands of Americans indicate the groundswell of resistance to the use of tax dollars to fund debt relief initiatives that benefit corrupt foreign rulers and dictators. This week, the House of Representatives is scheduled to vote on the Jubilee Act in conjunction with Pope Benedict's visit to the US.
The United States already sponsors numerous debt relief programs that include strict eligibility requirements, including the Heavily Indebted Poor Countries (HIPC) Initiative. These programs require that aid candidates adopt economic and political reforms, establish property rights, respect the rule of law and increase fiscal transparency before receiving aid. HR 2634 eliminates crucial accountability standards for nations receiving American aid.
"Passage of the Jubilee Act would undermine existing aid programs which encourage responsible reforms that will lead to economic growth and development. While the goal of poverty alleviation is laudable, HR 2634 will only lead to greater indebtedness in the future," said CFIF President Jeffrey Mazzella. "If the US Government wants to help developing nations eliminate poverty, it must recognize and work to eliminate the rampant corruption and profligate spending by the leaders of nations who are recipients of American aid."
The nearly 30,000 letters urge Congress to protect taxpayer income by voting against HR 2634 rather than perpetuating the cycle of poverty in developing nations. "American taxpayers have spoken loud and clear. The use of tax dollars to repeatedly and unconditionally bail out corrupt regimes is simply unacceptable," Mazzella concluded.
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