U.S. House passes economic rescue package
Washington,
Oct 3 -
Today U.S. Congressman Sam Johnson (3rd Dist.-Texas) released the following statement after the U.S. House of Representatives passed H.R. 1424, the Emergency Economic Stabilization Act of 2008, by a vote of 263 to 171.
Johnson supports the economic rescue alternative plan championed by House conservatives, H.R. 7223.
Johnson serves on the Ways and Means Committee that has jurisdiction over taxes and represents portions of Dallas and Collin Counties.
“This clearly ranks as one of the toughest votes I’ve ever cast in Congress. I wish that there was a better way to help struggling homeowners facing foreclosure.
“It was with mixed emotion that I voted no. While I liked the state-sales tax deduction, alternative minimum tax relief, and other energy conservation tax breaks, the bad outweighed the good in this bill. Even if people are willing to trust Secretary Paulson with this, I feel there are better alternatives, such as the economic rescue alternative plan.
“My constituents told me very clearly that they did not like the new version of the economic rescue package and I cast my vote with them in mind.
“Our children and grandchildren should not be saddled with the financial burden created by this generation.”
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