Last week we were voted through the New York Assembly Judiciary Committee so that the New York Assembly will have a chance to vote on Jubilee's New York Taxpayer and International Debt Crises Protection Act (S4747, A2970). Thanks to the actions you are taking we can pass this year this critical legislation that can provide debt relief and pandemic and climate aid to countries in crises. You can read more about the campaign in Eric's e-mail below and read more resources.
We need your help to make sure we get a vote in the New York Assembly and Senate before their session ends on June 9th. Please contact New York Senate Leader Andrea Stewart-Cousins and Assembly Speaker Carl E. Heastie immediately and urge them to co-sponsor and bring the New York Taxpayer and International Debt Crises Protection Act (S4747, A2970) to the floors for a vote.
Since our legislation moved out of committee last week, hundreds of newspapers covered the growing momentum of the New York Taxpayer and International Debt Crises Protection Act (S4747, A2970). Please take action on legislation that stops predatory debt collection, addresses inflation and economic shocks, protects our planet and helps lower global food costs.
From: Eric LeCompte, Jubilee USA Network <[email protected]>
Date: Mon, May 1, 2023 2:10 PM
Subject: Act: 25 Year Promise, New York Governor Kathy Hochul
Please write New York Governor Kathy Hochul to pass and sign our Jubilee New York Taxpayer and International Debt Crises Protection Act (A2970, S4747). Tell the Governor that all of New York's biggest unions and major religious groups, the United Nations and the world's most prominent development organizations want this legislation passed by June 1st. Tell Hochul that the legislation will relieve the debts of countries dealing with the pandemic and food crises. Tell Hochul the legislation immediately stops predatory vulture funds and that the legislation represents the most powerful and comprehensive solution to deal with global debt and the shocks that we face in the United States, New York and Puerto Rico.
As you write the Governor, New York's largest religious bodies and unions are demanding passage of the legislation. All of the major global debt and development groups are calling for the legislation to move forward. Puerto Rico's Archbishop and major religious leaders want this legislation. AND - a hundred young people from Africa are inundating New York Senators and Assemblymembers to co-sponsor the legislation. This is on top of thousands of people in New York taking action and the largest Jubilee mobilization of our grassroots in every single region of New York. On May 2nd and 3rd, from across New York State, New Yorkers are descending on Albany to move our legislation.
Hundreds of New York, national and global groups are supporting the legislation. Oxfam America is deploying team members and resources so we can get the legislation passed before June 1st.
Just some of the groups that wrote the legislature and Governor and support the legislation: The New York AFL-CIO; the New York State Catholic Conference and Catholic Bishops, the New York State Council of Churches; New York AFSCME; the New York State Public Employees Federation; Oxfam America; Bread for the World; the ONE Campaign; Puerto Rico's Speaker of the House; the Catholic Climate Covenant; The Hudson Mohawk Conference of the Evangelical Lutheran Church in America (ELCA) Upstate New York Synod; Presbyterian Church (USA); Rivers & Mountains GreenFaith Circle; the Leadership Conference of Women Religious, Jubilee USA Network, Jubilee Germany, Debt Justice UK, Afrodad, Eurodad, Latindadd and Jubilee Asia Pacific all are urging immediate passage of the New York Taxpayer and International Debt Crises Protection Act (S4747, A2970).
WOW - and On April 21st, the United Nations Expert on Foreign Debt and Human Rights issued a letter to the entire New York State Legislature, urging them to immediately pass the New York Taxpayer and International Debt Crises Protection Act (S4747, A2970).
60% of developing country debt is held by private creditors. New York law governs 52% of this global debt. Private creditors are not participating in debt relief for developing countries, even though the US government and G20 are demanding that vulture funds and commercial banks participate. New York and US taxpayer money bails out private creditors when private creditors refuse to offer the same level of debt relief that the US government offers.
Introduced by Senator Brad Hoylman-Sigal and Assemblymember Patricia Fahy, The New York Taxpayer and International Debt Crises Protection Act (S4747, A2970) ensures that private creditors participate in debt relief at the same level as the US Government, other governments and development banks. This will quickly cut and reduce unsustainable and unpayable debt so that developing countries can spend more money on essential public services, reducing poverty and address climate change.
Please write, call and send e-mails to New York Governor Kathy Hochul and tell her to move passage and immediately sign into law The New York Taxpayer and International Debt Crises Protection Act (S4747, A2970). Tell her this one page legislation is a rare breed as it is pro-people, pro-business, pro-labor, pro- United States, pro-investment, pro-relief and pro-planet.
That's why we started organizing in New York in 2012 and were the only organization to defeat vulture funds twice when they tried to take advantage of most of the world's countries. In 2014 we started leading new New York campaigns on debt relief legislation. THEN the pandemic happened and we found that all of our previous work in New York was no longer relevant - because now all private sector companies started to follow the vulture funds.
So with the best and brightest sovereign debt and development lawyers in the world, we created a piece of New York legislation that is only one page. The New York Taxpayer and International Debt Crises Protection Act moves debt relief in every past, present and future process.
The pandemic changed our lives and world and we needed a new type of global legislation. Now the New York Taxpayer and International Debt Crises Protection Act will transform our world and fulfill the promise we made, together, 25 years ago.
Tell Governor Kathy Hochul as a Catholic and Christian who believes in the Church's call to live justly, that she must support the New York Taxpayer and International debt Crises Protection Act.
With your help, we can win the promise - the Jubilee Promise to address poverty, corruption and inequality and to protect our planet.
Jubilee USA Network
110 Maryland Ave. NE, Ste. 210 - Washington, DC 20002
(202) 783-3566 - [email protected]