Katie Britt and colleagues introduce bill to allow consumers improve their credit ratings
U.S. Senator Katie Britt joined Sen. Tim Scott (R-South Carolina) in introducing the Credit Access and Inclusion Act to responsibly expand credit access for millions of Americans with limited or non-existent credit histories. The sponsors said that this bipartisan legislation would permit property owners and utility and telecom providers to report payment data to credit reporting agencies, allowing consumers with an established track record of paying their bills on time the additional opportunity to develop a positive credit history. “Hardworking Alabamians and Americans who have demonstrated financial responsibility deserve a pathway to establish and build their credit,” said Sen. Britt. “This bill takes into consideration the varying circumstances and experiences of individuals who hope to achieve their American Dream. Credit reporting is a crucial component in our nation’s economy to establish financial stability for the individual and the lender – this legislation simply incorporates a complete history of on-time payments, like rent and utilities, to reflect an accurate credit score.” “If you pay your bills on time, your credit score should reflect it,” stated Scott. “Americans shouldn’t be held back from purchasing a home, financing their education, or pursuing their dreams simply because their on-time payments don’t happen to count towards their credit scores. This bill will remove needless barriers and help hardworking Americans gain access to credit.” Sens. Britt and Ranking Member Scott in cosponsoring the bill are Senators Joe Manchin (D- West Virginia), Tom Cotton (R-Arkansas), Angus King (I-Maine), Mike Rounds (R-South Dakota), and Cynthia Lummis (R-Wyoming). U.S. Congressman French Hill (R-Arkansas) introduced the bill in the U.S. House of Representatives last week, along with Reps. Tom Emmer (R-Minnesota), David Schweikert (R-Arizona), Michelle Steel (R-California), Young Kim (R-California), Maria Elvira Salazar (R-Florida), and Byron Donalds (R-Florida). According to information provided by Sens. Britt and Scott, approximately 26 million Americans are “credit invisible,” meaning they lack credit records or a history of traditional payments, such as student loans, car loans, or mortgage payments. Having no credit or thin credit makes economic mobility difficult and hampers an individual’s ability to purchase a home, take out student loans, buy a car, or even get a job. The Credit Access and Inclusion Act allows credit bureaus to collect payment data for services not traditionally factored into credit reporting, such as rent, internet, phone, electricity, and utility payments. Factoring these payments into credit reporting would expand credit histories and generate credit scores for consumers who were previously “unscorable.” Many Americans who don’t have credit cards, mortgages, car payments, etc., don’t have enough open accounts to generate a credit score. Some people, however, are just starting out in life, while some people with no credit accounts may have significant actual wealth. Katie Britt is a member of the Senate Committee on Banking, Housing, and Urban Affairs. To connect with the author of this story or to comment, email brandonmreporter@gmail.com.
10,000-person caravan heading to U.S. from Mexico, saying Joe Biden will give them asylum
A caravan of thousands of people heading to the U.S. has reportedly left from Tapachula, Mexico, a city located less than 10 miles from the Mexico-Guatemala border. The timing of their departure was planned to coincide with the Summit of the Americas in Los Angeles, which began Monday. President Joe Biden, who’s still not been to the U.S. southern border, spoke at the summit Wednesday. Many of those in the caravan are from Central America, Venezuela, and Cuba, according to several news reports. “We consider we are around 9,500, it measures 5 1/2 km from the start to the end, people keep on joining, in the first police check there were approximately 100-150 national guard, INM, state police and let us through freely,” Luis Villagran, the caravan’s organizer, told Fox News. President Joe Biden “promised the Haitian community he will help them,” several Haitians told Fox News last week. “He will recall Title 42. He will help us have real asylum,” they said. Reuters reported that at least 6,000 people had already left from Tapachula. Villagran also said that Mexico began issuing 1,000 temporary work visas a day to people who were in Mexico illegally starting Wednesday, enabling them to travel throughout Mexico and to the U.S. border. Visas enable non-Mexican citizens to travel freely throughout Mexico and to be transported by Mexican citizens. Without visas, those traveling in caravans can’t reach the U.S. Upon hearing the news, U.S. Rep. Yvette Herrell, R-NM, wrote on Twitter, “Another thousands-strong caravan of illegal migrants, emboldened by Joe Biden’s complete destruction of our border security. Those who get through will be released into our communities with no background checks.” Texas Republican congressional candidate Irene Aremendariz-Jackson told “Fox & Friends First” that American leaders need to “stand up for Americans” instead of illegal immigrants. “This administration has empowered illegal aliens, has empowered everybody except Americans,” she said. “I want to remind the Biden administration that they were elected … to provide safety and tranquility for the American people. That is in our Constitution.” Armendariz-Jackson, a veteran from El Paso who is married to a Border Patrol agent, and is running against incumbent Democrat Rep. Veronica Escobar, argues the Biden administration has “completely failed” the American people. U.S. Sen. Marsha Blackburn, R-Tenn., wrote on Twitter, “What could be the largest caravan ever is heading toward our southern border, claiming Joe Biden promised them asylum. This is a nightmare.” Blackburn said the president “needs to get out in front of this and tell them to turn around immediately.” Of the summit, U.S. Rep. María Elvira Salazar, R-Miami, tweeted, “This administration is not interested in Latin America.” The proof, she said, was “the disorganization and abysmal leadership at the summit.” The summit was also “an example of Biden’s approach to Latin America: weak, disorganized and misguided.” The summit was “a mess,” she said in response to an article published by the Spanish language newspaper from South Florida, Diario Las Américas. The paper reported that the summit began “on quicksand due to boycott threats from countries like Mexico, in the midst of the migration crisis.” Republished with the permission of The Center Square.
