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Congress in Your Inbox - Boyda Says "No" to Bush's Bailout Plan

Plane Talk - Midwest Flight 99, Seat 12-B

Dear Friend,

More than 600 constituents have contacted my office this week. They are very, very concerned about the economy. The majority are angry over a potential $700 billion government bailout program.

Click here to share your views in a poll on President Bush's bailout proposal.

To my mind, privatizing profits and socializing losses is not the answer. We cannot in good conscience ask hardworking Americans to foot the bill for poor management practices and just plain greed. And under no circumstances should taxpayers be required to hand over one red cent toward Golden Parachutes for CEO’s who led their companies into failure! That’s why I wrote letters to U.S. Treasury Secretary Henry Paulson and Chairman of the Federal Reserve Ben Bernanke opposing multi-million dollar separation payments.

I agree with President Bush that government has a role in keeping markets running smoothly, but it appears that’s about all we agree on.

He is asking Congress for sweeping new power with no strings attached! No judicial review, no effective oversight, and no real limit on the money that can be spent. He’s trying to ram it through with little debate by sowing fear and anxiety. I don’t like those tactics, and I don’t like his proposal.

Pouring money into large corporations does not lead to a positive flow of money trickling down into communities and into the wallets of taxpayers. We’ve had decades now to figure out that “Trickle Down Economics” simply doesn’t work.

If President Bush thinks that the Wall Street really needs $700 billion in taxpayer dollars, then he should tell Americans how he plans to pay for it. If he will not do that, I will work with my colleagues to develop a plan that achieves five basic goals:

• Minimize expenses and maximize profits for the taxpayer
• Restores the availability of credit to business and consumers
• Protects our responsible community banks who avoided the mess
• Enacts regulations to prevent this from happening again
• Prevents those responsible for the mess from profiting from the rescue

We can’t pay for every bad decision that anyone ever made in this country. Our goal should be the best deal for the taxpayer that gets the markets running again. I think Bush’s plan fails on both counts. It takes from the taxpayer for Wall Street’s benefit, but it doesn’t provide the capital the banks need to get this country moving again.

In order to fix this economy, we have to refocus our thinking. We have to start with repairing economic conditions for the middle class. “Trickle Down Economics” is a sham. It doesn’t reach hardworking Americans on Main Street. And middle class families must succeed in order for our country to succeed.

With warm regards, 

Nancy Boyda
Member of Congress


Casework Corner – Time is Running Out to File for an Economic Stimulus Rebate!
By: Joshua Dieker, District Representative

With so many people facing a tough financial situation, no one should miss out on an opportunity to reap the benefits of this year’s economic stimulus payments. The Internal Revenue Service has identified about 20 million low-income senior citizens, disabled veterans and others with disabilities who did not have to file a 2007 tax return. Many people from these groups may miss out on this opportunity to claim their stimulus payments.

Anyone who made at least $3,000 in income during 2007 is eligible for a stimulus payment. Qualifying income includes social security and disability benefits, nontaxable combat pay, some railroad retirement and veteran’s benefits, and, of course, earned income. Anyone who is eligible for the stimulus payment, but who is not normally required to file an annual tax return, must file with the IRS by October 15 in order to receive the payment. The only required form is the 1040-A, which is relatively straightforward and easy to fill out.

If you find that you are eligible, you can find the form on the IRS website, which can be printed off and mailed in. Also on the IRS website is an online calculator to help estimate your payment, which will be a minimum of $300. Many are actually eligible for $600 or $1,200 for a married couple. There is just no reason to let the deadline pass without claiming your share of the stimulus package, especially given the uncertainty in the economy today.

If you have any trouble using the IRS website to determine your eligibility for a stimulus payment, or if you have any other questions relating to the economic stimulus checks, the Taxpayer Advocate Service can offer advice and assistance. They can be reached at (316) 352-7506. And as always, we encourage you to contact our office with your questions or concerns.


Letter of the Week - Nancy on the Financial Bailout

Dear Nancy,

As a person of faith, I believe how we spend our nation's money is a reflection of our moral values. Therefore, I am extremely concerned about the current unaccountable $700 billion bailout package being discussed for Wall Street.

Secretary Paulson must not be given a blank check of powers to spend our money. More importantly, as a taxpayer being asked to pay for the unacceptable risk-taking of the financial industry, I am writing to tell you that any "rescue" package must contain investments to protect the most vulnerable in our society.

I urge you to pass a fair and just bill that contains:

- Strict accountability measures, including an independent oversight authority and transparency at all levels
- Comprehensive, long-term regulatory solutions
- A commitment that any funds spent to bailout investors will be matched by at least a 10 percent tithe to support millions of Americans who have lost their homes and those still at risk of foreclosure.

As you make difficult decisions that will impact the future of the American economy, know that I am praying for wisdom for you and the rest of our nation's leaders.

"Plans fail for lack of counsel, but with many advisers they succeed." Proverbs 15:22, NIV

Jennifer from Atchison, KS.

Dear Jennifer,

The last several days have been truly unique in my time in office. I often say that democracy is a contact sport; it only works if the people keep in contact with their representatives. On most issues, the vast majority of contacts are organized call-in and write-in campaigns. This issue is different. Almost every call and e-mail is individual and spontaneous. I’ve heard from conservatives, moderates and liberals but, across the political spectrum, they’re almost all opposed to Bush’s bailout. I hear the same thing from my colleagues. The American people are making their voices heard, and they’re making a difference.

I want you to know that I also oppose the bailout.

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This Week in Congress - September 15 to September 20

I attended a House Armed Services Committee hearing Tuesday on issues surrounding the impending transfer of administrations and the potential opportunity to reexamine the United States grand strategy. I also met with Sherry Reed from Auburn - Washburn USD 437, on behalf of the Association for Supervision and Curriculum Development, and Dr. Thomas Doyle of Topeka from the American College of Cardiology. Later that day, I visited with Connie Stewart from Topeka, to discuss the importance of funding the foster grandparents program and the valuable services that foster grandparents provide to their communities. Finally, I attended the Veterans of Foreign Wars National Legislative Committee Reception with Ken Stodgell of Topeka.

Wednesday I did an interview with Rochelle Boharty of Chemical & Engineering News and attended a House Armed Services Committee Briefing on the Georgia-Russia conflict.

I met on Thursday with Mr. Bradley A. Henry, Pavement Marketing Specialist with the Kansas Department of Transportation and Mr. Travis Hansen, Government Sales for Ennis Paint Inc. from Meriden, KS. Both represented the American Traffic Safety Services Association.

I flew back to the district Thursday evening.

On Saturday evening, I attended the Freedom Salute for the 35th Infantry Division in Topeka at the Nickell Armory. During the evening, there were awards distributed from the Family Readiness Group as well as the VFW. The evening concluded with the Freedom Salute Ceremony.