Congressman Dennis Cardoza
18th Congressional District of California

WASHINGTON, D.C. — Today, Financial Services Committee Chairman Barney Frank and several other Committee members pledged their support to work with Congressman Cardoza to address the economic devastation facing the San Joaquin Valley.

“I could not be more appreciative of Chairman Frank’s support. We have overcome a significant hurdle,” said Congressman Cardoza.

Congressman Cardoza has proposed legislation that would establish Economic Disaster Areas as a means of directing federal aid to areas that have been hardest hit by the recession.

On Friday, the Financial Services Committee heard testimony from Congressman Cardoza, as well as Los Banos Mayor Tommy Jones, about the cumulative impact of record-high foreclosure and unemployment rates, drought, and crashing dairy prices. Following the testimony, several members of the committee acknowledged the extreme difficulties faced by San Joaquin Valley residents. Chairman Frank expressed his commitment to working with Congressman Cardoza to find a means of directing funding to the region.

“We are going to make a serious effort to do this,” Chairman Frank announced.

Congressman Cardoza hopes to submit formal legislation within the coming weeks.

“We have much work to do,” said Congressman Cardoza. “However, today we made significant progress in educating Congress about our Valley, and our unique challenges.”