Reps. Fattah, Fitzpatrick Reintroduce America's FOCUS Act

WASHINGTON, March 16, 2015 /PRNewswire-USNewswire/ -- Congressmen Chaka Fattah (D-PA) and Mike Fitzpatrick (R-PA) reintroduced America's FOCUS Act (H.R. 1360), legislation that seeks to improve America's competitiveness by investing in three targeted programs to strengthen the country's economic vibrancy. The bipartisan bill—America's Fund for Future Opportunities and Outcomes in the United States Act—seeks to direct revenue generated by corporate civil and criminal penalties, including bank fines and settlements, to medical research and innovation, justice reinvestment, and youth mentoring and STEM education programs.

The legislation identifies these three key areas with proven success in improving outcomes for individuals and directs the money to be evenly distributed through corresponding federal grant programs. The annual grants would: support innovations in medical research and development to advance cures and treatments for disease and disorders (National Institutes of Health), fund justice reinvestment projects that increase public safety by managing criminal justice populations more effectively (Department of Justice), and expand youth mentoring and STEM education programs nationwide (Department of Education). The remaining one percent of funds would be reserved for Federal deficit reduction.

"America's FOCUS Act gives us the opportunity to be intentional in directing where the millions or billions of dollars from corporate fines and penalties end up. The bill steers the money towards programs that will impact the lives of millions of Americans; seeking to improve educational and training opportunities for future generations, enhance public safety in our communities, and foster advancements in medical research to better fight diseases and improve public health," Congressman Fattah said. "If the United States intends to remain the leader in our global society, it is imperative that every American is put on a strong path for success—we cannot afford to leave anyone behind while we compete with nations that have populations three times that of ours. This bill prioritizes the necessary investments in human capital that will produce an educated, trained, and healthy workforce." 

"Investing in our nation's future is vital to the success of our economy and continuing our role as an international leader in human capital," said Fitzpatrick. "The America's FOCUS Act utilizes corporate fines to invest in everything from groundbreaking medical research and education, to paying down our national debt. This bipartisan bill is an innovative way to target funds at areas that promote better jobs and more opportunity without piling more onto the American taxpayer."

In recent years, the Department of Justice has collected record settlements—billions of dollars annually—from corporate fines and penalties. Reports from SNL Financial, a business research firm, showed that between 2010-2012 the country's largest banks agreed to more than $62 billion in settlements—a number that has already risen significantly in the wake of landmark settlements throughout the three years. In many cases, the U.S. government also receives financial revenue as part of settlements in which no wrongdoing is established.

America's FOCUS Act, originally introduced in the 113^th Congress, has attracted support from nonprofit and advocacy groups, including the Boys & Girls Clubs of America, Girl Scouts of the USA, National Association of Counties, National Urban League, National League of Cities, United Way, Big Brothers Big Sisters of America, MENTOR, First Tee, U.S. Dream Academy, American Brain Coalition, Amachi, and the National Council for Community and Education Partnerships.

Click HERE to read America's FOCUS Act in its entirety.

SOURCE Office of Congressman Chaka Fattah

Related Links

http://www.fattah.house.gov

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