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The Jubilee Act (H.R. 4405) has now been reintroduced, and I urge you to take leadership on this crucial issue by signing on as a co-sponsor. This bi-partisan bill expands critical debt cancellation to 22 additional impoverished countries left out of previous deals.

For the world's most impoverished countries, debt service payments divert scarce resources away from the provision of basic services to citizens, including clean water, education, and health care. In the wake of the economic crisis that pushed an additional 100 million people into extreme poverty this year, there is an even greater need for poverty alleviation measures. Although wealthy countries such as the U.S. generously provide foreign aid for poverty reduction, this assistance does not make up for the drain on the resources of impoverished countries from debt payment. In fact, despite the successes of debt reduction measures to date, low-income countries still pay back an average of $2.30 in debt service for every $1 received in aid.

Debt relief is a proven way to achieve poverty reduction. Social spending in countries that have received debt relief has risen by 75 percent and its positive effects are already showing. Monies once spent on debt have been redirected toward important poverty-focused initiatives such as fighting HIV and malaria, enrolling children in school, and providing clean water.

The Jubilee Act would safeguard the gains made from debt relief so far, and give a total of 62 countries the chance to qualify for cancellation measures, up from the 40 countries that are currently eligible. The bill recognizes the mistakes of past lending and works to prevent another debt crisis by requiring responsible lending from international financial institutions, calling for the removal of harmful economic conditions, and working to make receiving governments more accountable to their citizens.

At a time of divisive partisan politics, I am encouraged to see Democrats and Republicans working together on this important effort to fight global poverty and economic injustice. Please co-sponsor the Jubilee Act (H.R. 4405) and ensure that Congress works to make real change in fighting poverty around the world. 

Thank you for your time and consideration. 

Sincerely,