WASHINGTON, D.C –September 29, 2008 – U.S. Representative Ron Lewis issued the following statement following the defeat of the Emergency Economic Stabilization Act of 2008 Monday afternoon in the U.S. House of Representatives:

 

“Just over a week ago, the Administration requested that Congress act on a proposal to address a growing and comprehensive financial crisis.  The House of Representatives responded with the Emergency Economic Stabilization Act of 2008.  While far from being an ideal bill I believe some modifications made over the weekend improved the Treasury’s plan. 

 

“In the end, I voted for the legislation.  Now that the proposal has failed, it is more important than ever that we work together to develop a plan to address the existing crisis with the strong bipartisan support of Congress.

 

“As we move forward, my priorities remain unchanged: protect Kentucky taxpayers and ensure that irresponsible practices on Wall St. do not imperil the investments and savings of hardworking, responsible citizens on Main St.”

 

Lawmakers and Treasury officials intend to continue negotiations throughout the next few days and debate a modified version of the rescue plan later this week.

 

 

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