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BARACK OBAMA: FIGHTING ECONOMIC OPPORTUNITY FOR THE LATINO COMMUNITY – PART 4

Reform Bankruptcy: Over the last 25 years, bankruptcies increased 400 percent, putting more families at risk of falling into financial ruin. A recent study showed that nearly half of bankruptcy cases resulted from a major illness. Barack Obama attempted to improve the Bankruptcy Reform bill that Congress passed in 2005 and opposed its final passage. As president, Obama would revise our bankruptcy laws to allow families to get back on their feet after a personal financial crisis.
Provide a Living Wage: Barack Obama believes that people who work full time should not live in poverty. Latinos make up 12 percent of the total workforce, but more than 19 percent of Latinos would benefit from a minimum wage increase. Before the Democrats took back Congress, the minimum wage had not changed in 10 years. Even though the minimum wage will rise to $7.25 an hour by 2009, the minimum wage’s real purchasing power will still be below what it was in 1968. As president, Obama will further raise the minimum wage to $9.50 an hour by 2011, index it to inflation and increase the Earned Income Tax Credit to make sure that fulltime workers can earn a living wage that allows them to raise their families and pay for basic needs such as food, transportation, and housing — things so many people take for granted.