Congressman Denny Rehberg

WASHINGTON, D.C. - Montana’s Congressman, Denny Rehberg, today contacted Speaker of the House Nancy Pelosi (D-CA) and House Committee on Education and Labor Chairman George Miller (D-CA) urging them to include legislation he recently introduced, The Retiree Relief Act, in any upcoming legislation that reaches the floor of the House this week.

“With only days left before the end of this current Congress, it’s critical we move quickly to provide some economic relief for regular Montanans,” said Rehberg, a member of the House Appropriations Committee.  “I’ve got a cost-effective solution that will take some of the financial burden off of our state’s senior citizens and allow them to have more money to put toward filling up their gas tank, putting food on the table, and paying for healthcare.”

The Retiree Relief Act would provide relief to seniors citizens by allowing them to continue to keep money in retirement accounts that they are typically required by law to withdraw once they reach age 70 ½. 

Currently, an investor must make a required withdrawal based on the size of their account and their age every year after age 70 ½.  This rule is intended to prevent investors from using retirement accounts as a tax shelter.  If an individual fails to take a required minimum distribution (RMD), they are heavily penalized by the IRS, which taxes the amount not withdrawn at 50%.

Rehberg’s bill would waive any penalties for not taking the RMD for 2008 and 2009.  Additionally, the bill would allow seniors that have already taken their RMD for 2008 to re-contribute those amounts to their savings accounts without penalty. 

Suspending the mandatory withdrawal would allow retirees to keep the money in their account if they choose, and possibly recover some of their losses.  Seniors have spent years saving for their retirement and forcing them to take out artificially large amounts now could be devastating in later years.

Letter:

Dear Speaker Pelosi and Chairman Miller,

I am writing to call your attention to a matter of great urgency.  As you know, the consequences of mounting losses in the stock market are falling heavily on retirees.  The value of retirement savings has been greatly diminished, and for some retirees, waiting out the market is not an option.  

Current law penalizes older Americans by requiring them to take a required minimum distribution (RMD) out of their retirement accounts every year after age 70 ½.  This requirement was originally designed to keep wealthy investors from hoarding investments in tax sheltered accounts.  However, in the current economic climate, this policy is forcing seniors to liquidate their savings at severely reduced prices and will impact their economic security in the years to come.

During times of economic uncertainty, Congress must not solely focus on politically connected industries like banking and automobiles.  We have it in our power to lend a helping hand to millions of seniors who made the sacrifice to put money away for their retirement by suspending the penalties associated with forced required minimum distributions for 2008 and 2009.

I urge you to bring up the attached legislation as either a stand alone bill or as part of another legislative package before the end of the 110th Congress.

Sincerely,

Congressman Denny Rehberg

WASHINGTON, D.C. - Montana’s Congressman, Denny Rehberg, today released the following statement in response to the Department of Interior’s (DOI) updated regulations regarding the possession of firearms in national parks and wildlife refuges.

          “Today’s announcement is a huge victory for gun owners. The past regulations were simply unacceptable. Our Second Amendment rights shouldn’t end at the gates of Yellowstone or Glacier National Park.  My colleagues and I put the pressure on the Department of Interior to get these rules updated and I’m glad to see our hard work paid off.” 

The final rule, which updates existing regulations, would allow an individual to carry a concealed weapon in national parks and wildlife refuges if the individual is authorized to carry a concealed weapon under state law in the state in which the national park or refuge is located

Earlier this year, DOI agreed to revisit the regulations after strong pressure from Rehberg and several other members of Congress.

HELENA, MT. – Montana’s Congressman, Denny Rehberg, today took part in the ribbon-cutting ceremony for Eagle Manor III, a newly completed Helena area apartment complex dedicated to housing low-income seniors and the disabled.

“America’s unstable economy is hitting Montanans hard,” said Rehberg.  “And even the basic necessities, like a roof overhead, are getting tough to afford.  Eagle Manor III will play a critical role in housing local Helena residents, and I’m glad I could fulfill a crucial need of this community.”

Rehberg, a member of the House Appropriations Committee, secured $196,000 for the project through a Housing and Urban Development (HUD) appropriation in 2007.  The Eagle Manor III project fills a need for affordable housing in Lewis and Clark County where census projections indicate the elderly population is expected to increase by more than 200 percent in the next 20 years. The 30 unit complex will serve those living on 50% of the area median income (currently $21,600).

“Congressman Rehberg understands the needs of Helena and the importance of projects like this,” said Jeff Miller, Director of Community Development at the Rocky Mountain Development Council.  “We’re extremely grateful for the vital funding he’s provided.”

“This project is a great example of cooperation between the federal government and hard-working Montanans,” added Rehberg.  “Providing folks in need with a warm place to sleep at night is always a good investment.”

Montanans are struggling financially.  This is evident every time I travel throughout the state.  The day-to-day living expenses are starting to add up as the instability of the U.S. economy continues.

While the bad news has been piling up, there are reasons to be confident.  In fact, just days ago on so-called “Black Friday,” we watched as millions of Americans poured into their local shopping centers to purchase Christmas gifts, holiday decorations, and household items.  This is a testament to the faith Americans have in our economy and although the country entered a recession last December, people across the country believe we will rebound from this crisis. 

However, many questions still remain, not the least of which is what can Congress do to help those folks and small businesses that are struggling the most? In Washington, D.C. the discussions continue to focus mostly on corporate bailouts. I’ve continued to stress that we need to move forward with caution before providing billions of taxpayer dollars to large industries while ignoring the smaller but equally important pieces of the puzzle.   

In particular, I’ve said we need to start looking at simple solutions that would give regular Montanans some reprieve from their daily struggles to purchase gas, put dinner on the table, or even pay for healthcare.  I’ve emphasized to the President and Congressional leaders that we need to look for innovative means of addressing the economic crisis. Last month, I decided to act.

Currently, the Internal Revenue Service (IRS) requires senior citizens to withdraw a portion of funds from their retirement savings account once they reach age 70 ½.  The rule was originally designed to prevent wealthy investors from using retirement accounts as a tax shelter.  Not a bad idea except the rule is now forcing seniors into a situation where they either have to withdraw their savings at a huge loss or face massive financial penalties.

In response, I’ve drafted a bill that would give our senior citizens some relief.  My legislation would ease that burden by waiving any penalties for not taking the Required Minimum Distribution (RMD) for 2008 and 2009.  Additionally, it would allow seniors that have already taken their RMD for 2008 to re-contribute those amounts to their savings accounts without penalty. 

Suspending the mandatory withdrawal will allow retirees to keep the money in their account if they choose, and in the end, allow them to recover some of their losses.  The last thing the government should be doing at a time like this is requiring seniors to raid their retirement accounts.  Retirees need to have a stable source of income for their golden years, without worrying about the money running out.

Again, it’s easy for us to just want to throw money at the economic problems that are hurting our country.  Every Montanan has been hit by our struggling economy in one way or another. And we all want solutions. However, there are cost-effective answers, like my bill, that will relieve the burden on Montanans without simply opening up the federal government’s checkbook again. 

As your sole Representative in the House, I will continue to look for additional ways to offer common sense solutions that can provide real relief to those that need it during these unstable times.  It’s time we look beyond the bailouts and begin the process of getting the economy back on track.      

Montana Congressman Denny Rehberg is a member of the House Appropriations Committee

WASHINGTON, DC - Montana’s Congressman, Denny Rehberg, today released the following statement regarding the lighting of the Capitol Christmas Tree, which was harvested from the Bitterroot National Forest in Montana.

          “144 years ago, when this tree took root, the year was 1864.  In the midst of the Civil War, President Abraham Lincoln was elected to his second term as the magnificent cast-iron dome of the United States Capitol Building was completed.  Further west, a new territory was carved out of the existing Washington and Dakota Territories.  The new territory was named Montana – an homage to the rugged landscape from which this tree was chosen.

          Today, after a journey of more than two thousand miles from the Sapphire Mountains in Montana, this tree stands beneath the United States Capitol Dome as a symbol of the holiday season.  Like this tree, the United States was born from a tiny seed of an idea – that government derives its authority from the people and that people thrive best when planted in free soil.”

Additionally, this morning Rehberg met with 9 year old Chris Gabrielsen from Havre, who will join Rehberg at a tree lighting ceremony and will have the opportunity to “flip the switch” on the tree’s lights.

WASHINGTON, DC - Montana’s Congressman, Denny Rehberg, today announced his Deputy Chief of Staff Jay Martin has been promoted to the position of Chief of Staff in his Congressional office.

            “Jay has been a valuable asset to my office over the last six-plus years,” said Rehberg, a member of the House Appropriations Committee.  “He has a strong work ethic and I can think of no one better to take over the reins as my Chief of Staff.”

            “I’m excited to be able to work in a new capacity for Denny and the people of Montana,” said Martin.  “Denny’s in a great position as a member of the Appropriations Committee to push through funding for rural priorities such as healthcare and energy development and I look forward to continuing to work with him toward these goals.”

            Martin joined the Rehberg office in May 2002 and has served as Deputy Chief of Staff since January 2004.  Prior to that, Martin worked for Congressman Steve Largent and later as Legislative Assistant to Congressman John Sullivan, both of Oklahoma. 

            A native of Ohio, Jay grew up in Cincinnati and earned a B.A. in political science from the University of Dayton. 

            Rehberg’s former Chief of Staff Erik Iverson has left to work as a consultant on several projects for Entrepreneur and Montana Meth Project Founder Tom Siebel.

            “I greatly appreciate all of the Erik’s hard work on my behalf and on behalf of our state,” said Rehberg.  “It’s obvious those efforts have paid off.  I wish him the best of luck in the future.”