Washington, Oct 3 -

U.S. Rep. Jerry Weller (R-Morris) released the following statement after voting to pass the economic rescue package before the House this afternoon:

“Ultimately, when weighing the cost of doing nothing against passing this flawed bill, it became clear that the price of inaction on the part of the House was too great. 

“We must do something to restore confidence in the credit market and the everyday marketplace.  Frankly, time has run out for Congress to consider other options.  After listening to hundreds of local citizens and gaining a true understanding of the consequences of inaction by Congress when our economy needs a serious dose of confidence, I determined today’s hard choice requires a ‘yes’ vote.

“When a local construction firm needs financing to buy Caterpillar construction equipment or a local commuter wants to buy a new car, our financial markets are there to provide that credit.  Our economic future requires intervention today and this legislation – while flawed – will inject this new confidence into the financial markets which affect each and every citizen of the 11^th District of Illinois.

“I would also note that while the revised legislation voted on today includes some big additions that may raise some questions, it also includes some important tax legislation I have supported throughout my career, including an extension of relief of the Alternative Minimum Tax, and tax incentives designed for energy independence for production of alternative energy such as wind, solar, and biomass.

“I am also thankful that the last action of the House today will be to approve legislation I have advocated to provide for extended unemployment benefits for laid-off workers who have exhausted their unemployment insurance benefits while looking for a new job.  Illinois suffers one of the highest unemployment rates in the nation and I’m thankful we were successful in making sure help would be there for the unemployed.”