Press Release |
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FOR IMMEDIATE RELEASE |
CONTACT: Leslie Shedd |
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Lucas Statement on Opposition to Bailout Bill |
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Washington, DC - The House of Representatives voted on H.R. 1424, the Emergency Economic Stabilization Act today. It passed by a vote of 263-171. It will be presented to the President, who has indicated he will sign the bill into law. Congressman Lucas voted against the bill. Below is his statement:
In the last several months, I have followed the turmoil in the markets and the problems facing our financial institutions. I have participated in discussions with Treasury Secretary Paulson, Chairman Bernanke, and President Bush, and have listened to their concerns. I understand the severity of the current situation and believe action must be taken to stabilize our financial system. While I respect the opinions and ideas of the Secretary, Chairman, and President, I cannot take a risk with $700 billion in taxpayer money without more details and reassurances. After all, it was Wall Street’s risky behavior that brought us to this situation today. As a United States Congressman, I made a commitment to the people of my district, and I must live up to that commitment. As we move forward, I will continue to work to address the challenges facing our financial system. # # # |