Letters: Report underscores need for climate action; Moving on after fraud allegations

Report underscores need for climate action

In its November 2020 Financial Stability Report, the Federal Reserve stated, for the first time, that climate change adds uncertainty and risk to the U.S. economy and its financial institutions.

The report updates the Federal Reserve’s assessments of vulnerabilities in the financial system, and factors or shocks that may affect them. Vulnerabilities include asset prices such as real estate values, and the ability of businesses and households to pay off debt.

One such shock is climate change. The Federal Reserve report warns that acute climate events, such as storms, floods, droughts, and wildfires can quickly alter the value of real and financial assets. Drops in real estate prices after floods or wildfires can have domino-like effects on banks, insurance companies and other parts of the financial system. The Federal Reserve expects banks to measure, monitor and control all relevant financial risks, and this now includes climate change.

The Federal Reserve report underscores the need for effective climate action.

One legislative solution is already available. The Energy Innovation and Carbon Dividend Act (H.R. 763) is currently before the U.S. House of Representatives. It collects a modest fee on fossil fuels, and returns the revenue to U.S. taxpayers. Economists predict that this market-based approach will curb climate change. You can ask your members of Congress to pass H.R. 763!

You can also write to the Pennsylvania Environmental Quality Board to support the Regional Greenhouse Gas Initiative, which will decrease emissions, lower health care costs, and promote economic growth.

Moving on after fraud allegations

Yes, let us stop the steal. Let’s stop the GOP from stealing our votes by throwing them out. I voted by mail-in ballot, as I have many medical conditions that made me decide to be safe and vote by mail-in. Thanks to all who made this an option for us who like to be safe and stay healthy. By throwing out our votes we are being deprived of our constitutional right to vote and to have our vote count. Trump keeps spewing voter fraud, yet none of his so-called attorneys have provided one shred of evidence to back up their claims, although they keep saying they have proof. So Mr. Trump, put your money where you mouth is, show is the proof; in other words, put up or shut up! Let us get on with healing this country and striving to get us back to being a world leader and make America great again, since we have been great for four years.

Support for the Global Child Thrive Act

Earlier this week a piece was published telling the stories of Malagasy women who struggle every day to feed their children; countless children in Madagascar go hungry every day. As of 2018, there were 822 million people hungry around the world, and almost 200 million kids under the age of 5 were underweight for their age. Pennsylvania Sen. Bob Casey is a supporter of the Global Child Thrive Act, which works to advance childhood development, but Sen. Pat Toomey is not.

While I believe human kindness and generosity should be reason enough to push aid to countries around the world, there are further concrete examples of how aiding foreign countries directly benefits the United States. As impoverished countries rise out of poverty and continue to develop, they become developing powers that the U.S. can trade goods with to increase our economy and foreign alliances. It has also been proven that as countries receive funding for food and education, they are less likely to terrorize or otherwise enact violence against the United States.

I’m calling on Sen. Pat Toomey to join Sen. Bob Casey in supporting the Global Child Thrive Act, and to work with the Senate and the House of Representatives to continue funding developing countries like Madagascar.