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Section VII: Our Proposed Federal Economic
Revitalization Act (FERA)
(A Replacement to Senate Bill 2433)


An Effective Method for Mitigating the Recession without
Printing Money for Multi-Trillion Dollar Bailouts

On 7 December 2007, then-Senator Barack Obama and then-Senator Joseph Biden introduced Senate Bill 2433, the Global Poverty Act, which, if enacted into law, would require the President to play a significant role in removing deficiencies relating to America’s Official Development Assistance (ODA) commitments that sprang from the Monterrey Consensus, which was itself a reflection of America’s earlier commitments to United Nations General Assembly Resolution 2626 (XXV), which was adopted more than thirty-eight years ago, on October 24, 1970.

We have proposed that Senate Bill 2433 be amended to include provisions called for in our suggested Federal Economic Revitalization Act, which would allow American corporations to contribute goods and services overseas, all of which would be credited against America's ODA commitments. Our concept of self-directed taxation would have the effect of lowering federal taxes by allowing tax credits to reduce the contributor’s federal tax bill.

FERA appeals to Democrats who like the idea of America doubling its current ODA payments. Republicans like linking American businesses to the first effective economic model yet devised to bridge the digital divide, thus giving them some social responsibility bragging rights. Accordingly, we might be able to craft a rare, but plausible bi-partisan cooperation to see this legislation through to becoming part of the federal tax code. Here's our letter dated 28 January 2009 to Senator Dianne Feinstein that discusses this issue:

Letter of 28 January 2009 to Senator Dianne Feinstein (D-CA)

Here are copies of our letters to the leading Republicans in the Senate as well as to the new Chairman of the Republican National Committee. Also included below are copies of letters to the governors and United States senators of the states of Utah, Colorado, and New Mexico, where some of SWANsat's vendors are located. These states could receive a large proportion of SWANsat's USD$36 billion budget for construction of our planned system.

Letter of 4 February 2009 to RNC Chairman Michael Steel

Letter of 4 February 2009 to Colorado Governor Bill Ritter

Letter of 4 February 2009 to New Mexico Governor Bill Richardson

Letter of 4 February 2009 to Utah Governor Jon Hartsman

Our White Paper on How to Revitalize the American Economy

Text of Senate Bill 2433

 
 

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Contents of this site Copyright © 1996-2013 by SWANsat Holdings, LLC. ALL RIGHTS RESERVED INTERNATIONALLY. This page posted pursuant to SWANsat's General Terms of Use. This site was last modified on Monday, February 17, 2014 15:45 -0800.