| WASHINGTON, D.C. – U.S. Congressman Sam Graves issued the following statement on today’s vote:
“I voted against the bailout bill on Monday because it gave $700 billion to those on Wall Street who created this mess while doing nothing to protect taxpayers or the small businesses affected by the economic crisis. I voted on principle, and those principles have not changed. The only difference between today’s bill and the last bailout bill is an extra $100 billion in spending and giveaways to special interests.
“There is no question that we must act to protect the lifesavings of our retirees, the college savings accounts of our children, and the access to credit that our small businesses depend on to make payroll. Unfortunately, bailing out Wall Street will not do anything to help Main Street and will only encourage the behavior that put our economy in the position it is in now.
“From the beginning, the Administration and House Leadership have failed to consider other options that would protect the taxpayers and protect Main Street. Their approach to our current crisis is only setting us up for another crisis down the road. With jobs, businesses and our entire economy at stake, Congress and the President have rushed into a bad decision that fails to address the real problems that caused this crisis.
“I hope and pray that this bill works, but I fear, that by failing to address the real problems, Congress has only passed on $800 billion of debt to our children and grandchildren.”
Background- Giveaways in HR 1424
· $2 million for the makers of wooden arrows
· $192 million for the rum industry
· $478 million for Hollywood Film Industry
· $10 million for riding a bicycle to work
· $148 million for the wool industry
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