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Republican Plan To End The Bailout Of Fannie Mae and Freddie Mac View the plan here |
12-8-09, Bachus: We Need To End TARP, Taxpayers Must Be Repaid |
December 8, 2009
WASHINGTON - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement regarding the Obama Administration's plan to divert TARP money to fund its political priorities. "Taxpayers deserve better; they deserve to be repaid. We need to end TARP and require that all repayments go directly toward paying down the debt." NOTE: House Democrats are also pursuing additional measure that will prevent taxpayers from being repaid for TARP. Financial Services Committee Chairman Barney Frank has added language to his manager's amendment that will divert $3 billion in TARP funds for emergency mortgage relief and an additional $1 billion for the neighborhood stabilization program. |