Jubilee Act Passed in the House
May 11th, 2008
The Jubilee Act for Responsible Lending and Expanded Debt Cancellation (H.R. 2634) was passed in the House of Representatives on April 16, 2008 by a vote of 285 to 132. It was referred to the Senate Committee on Foreign Relations on April 24, which has held hearings. Once the Senate passes S. 2166, the Jubilee Act will become law and for more impoverished nations, relief from crushing debt can become a reality.
In June 2007, Rep. Maxine Waters (D-CA) and Rep. Spencer Bachus (R-AL) introduced the Jubilee Act for Responsible Lending and Expanded Debt Cancellation (H.R. 2634) in the House of Representatives. Senators Robert Casey (D-PA), Richard Lugar (R-IN), and Chris Dodd (D-CT) followed suit in October by introducing an identical Senate companion bill (S. 2166). This legislation calls for more transparent and responsible behavior on the part of creditors, while expanding eligibility for debt cancellation to all 67 countries that need it to meet the United Nations Millenium Development Goals, without imposing harmful economic conditions. Only 40 countries are eligible under current debt relief schemes, and of those 40, only 22 have actually had their debts cancelled. Jubilee USA Network is calling on Members of Congress in the House and Senate to support improved creditor behavior and debt cancellation in impoverished countries by co-sponsoring the Jubilee Act.
Jubliee USA’s website has a plethora of resources on the Jubilee Act, including summaries, legislative history, FAQs, talking points and information on Congressional support. Bipartisan support of the Jubilee Act in the House of Representatives was instrumental its passage. This can happen in the Senate too, with your support, so please visit Jubilee USA’s Jubliee Act resource page at for assistance in contacting your Senator about supporting S. 2166.
