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Manzullo
Contact: Rich Carter 815-394-1231


Manzullo: “Congress Must Fix this Financial Crisis, But Not on the Backs of the American Taxpayers”

Washington, Sep 29 -

Congressman Don Manzullo (R-Egan) issued the following statement this afternoon after the House voted down the proposed $700 billion taxpayer-funded financial bailout bill. Manzullo opposed the legislation but supported alternative bills that would have alleviated the crisis without putting taxpayer money at risk:

STATEMENT

“The American people today rejected the $700 billion taxpayer bailout of the bad investments of Wall Street.  The American people did not cause this mess and loudly proclaimed that they demand a better deal. They were furious that those who caused the problem would be the ones to benefit at their expense. They recognized the solution offered was untested, expensive, and risky, while reasonable, cheaper, and proven solutions should have been given consideration by Congress.

“While I joined with the American taxpayers in opposition to this bill, I recognize the crisis at hand and the need to quickly approve a new measure that uses free-market incentives to encourage investment in the markets without taxpayer liability. Congress should stay in session around the clock until we solve this crisis.”

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