Washington, D.C. – U.S. Representative Charles W. Boustany, Jr., (R-Southwest Louisiana), today voted against a $700 billion bailout for overextended financial institutions both in America and abroad.

“My first responsibility as a member of Congress is to the American taxpayer, and today, I am proud to defend the hard-earned dollars they send to Washington,” Boustany said.  “Our financial markets are critical to economic growth.  This bill is not the prudent way to protect responsible mortgages and pension plans.  Congress can still act in a smart way to allow the market to correct itself, but taxpayers will not be put on the hook, if I have a say about it.”

Boustany voted against the Financial Markets Stabilization Bill, a Wall Street bailout including $700 billion for the Treasury Department without significant direction by Congress.

A bi-partisan group blocked the bill, which was defeated 207-226.

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