SEN. MENENDEZ CHOSEN AS CHAIRMAN OF HOUSING AND TRANSPORTATION SUBCOMITTEE IN SENATE BANKING COMMITTEE

WASHINGTON – February 10, 2009 – (RealEstateRama) – Today, U.S. Senator Robert Menendez (D-NJ) assumed the chairmanship of the Housing, Transportation and Community Development Subcommittee in the Senate Banking Committee. In this position, the Senator will chair hearings and help direct policy on these vital issues for families in this economy.

“With this new responsibility, I will be able to more directly help effect change on some major economic issues that impact the lives of New Jersey families on a daily basis. The housing crisis is the root of our economic struggles. It continues to affect families who lose their homes as well as their neighbors who face plummeting property values and begin to worry about their own financial situation. I’m going to work closely with President Obama to deliver real economic security to families who are worried about how they can continue to afford their mortgage payments.

“This subcommittee also oversees transportation issues, especially mass transit. New Jerseyans rely heavily on mass transit to get to work and school, and they know how it useful can be to cut down on energy costs and commute times. I believe that we should be doing everything we can to support mass transit in our state and around the country to help people reduce their expenses and break our reliance on foreign oil.”

In addition to this subcommittee chairmanship and his membership in the Banking Committee, Senator Menendez is also a member of the powerful Senate Finance Committee; a member of the Senate Foreign Relations Committee and chair of the subcommittee that oversees foreign assistance; a member of the Senate Energy and Natural Resources Committee; a member of the Senate Budget Committee; and the Chairman of the Senate Democratic Hispanic Task Force.