WASHINGTON, D.C. – U.S. Rep. Frank A. LoBiondo (R-2nd), a member of the House Armed Services Committee, applauded the House passage of H.R. 6599, the “Fiscal Year 2009 Military Construction-Veterans Affairs Appropriations Act,” by a vote of 409 to 4.

WASHINGTON, D.C. – U.S. Rep. Frank A. LoBiondo (R-2nd), a member of the House Armed Services Committee, applauded the House passage of H.R. 6599, the “Fiscal Year 2009 Military Construction-Veterans Affairs Appropriations Act,” by a vote of 409 to 4.

U.S. Rep. Frank LoBiondo (R-2nd)

WASHINGTON, D.C. – Convinced that responsible home owners will be unfairly penalized for the actions of irresponsible borrowers, U.S. Rep. Frank A. LoBiondo (R-2nd) On July 23 voted against H.R. 3221, the “American Housing Rescue and Foreclosure Prevention Act of 2008,” which would, according toa a release, “place taxpayers on the hook for up to $300 billion to bail-out reckless borrowers. The legislation also carries a potential $5 trillion taxpayer-funded future bail-out for Fannie Mae and Freddie Mac.”

Offshore oil platform. NASA image

WASHINGTON – On July 14, President Bush announced that he is lifting an executive ban on drilling up and down the East and West coasts of the U.S. originally implemented by President George H. W. Bush.

Sen. Robert Menendez (D-NJ), a leading opponent of drilling in the Outer Continental Shelf and author of the COAST Act to permanently ban drilling there, released the following statement:

WASHINGTON — The Internal Revenue Service on June 23 announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

The rate will increase to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008. This is an increase of eight (8) cents from the 50.5 cent rate in effect for the first six months of 2008, as set forth in Rev. Proc. 2007-70.

U.S. Rep. Frank LoBiondo

WASHINGTON, D.C. – Concerned with the effects of the increasing price of fuels on South Jersey families and small businesses, U.S. Rep. Frank A. LoBiondo (R-2nd) has joined with Rep. John B. Larson (D-Conn-1st)) on bipartisan legislation that would prohibit unregulated speculation in the energy futures market.

WASHINGTON — Following is a statement from the Research Division of the National Association of Realtors® regarding revised data for first-quarter New Jersey existing-home sales published last month, which reported erroneous sales data:

Woodbine Port Authority airport at nightfall. Photo by Harry B. Scheeler Jr.

WASHINGTON, D.C. – U.S. Rep. Frank A. LoBiondo (R-2nd), a member of the House Aviation Subcommittee, on June 11 announced $2,378,600 in federal funding from the Federal Aviation Administration for three regional airports, one being Woodbine’s.

The Atlantic City International Airport and Hammonton airports were the others.

The FAA has awarded $111,153 to the Woodbine Port Authority for the municipal airport, and $315,445 in federal funding to Hammonton for its airport.

Hurricane Hunter plane touches down at Cape May County Airport in 2007 county photo.

WASHINGTON, D.C. – U.S. Rep. Frank A. LoBiondo (R-2nd), a member of the House Aviation Subcommittee, on May 30 announced $673,625 in federal funding for the Cape May County airport from the Federal Aviation Administration (FAA).

Additionally, the FAA has awarded $534,480 in federal funding to the City of Millville for its airport.

“What a great way to start the weekend! I am very pleased Millville and Cape May County will receive these substantial federal investments for improvements to its local airports,” said LoBiondo in a release.

Lawrence Yun

By Lawrence Yun
Chief Economist
National
Association of
REALTORS Research

Recent news on inflation is not good. In the first quarter of this year, the Consumer Price Index posted its highest level in years. A story in The Wall Street Journal last month carried the headline: "Inflation, Spanning Globe, is Set to Reach Decade High." We've all felt the effects in higher costs for food, energy, and other consumer goods.