Today, U.S. Rep. Ed Perlmutter (CO-07), a member of the House Financial Services Committee, voted with a bipartisan majority of Congress to pass an economic rescue package to help stabilize the national economy. The House voted 263-171 for passage of the legislation. Below is a statement from Perlmutter:
“Passing this bill today was important to making sure Main Street USA and our businesses, homeowners and farmers all over this country have access to credit to buy inventory or finance a new home or purchase seed for next years crops.
This bill is not perfect and there were good reasons to vote either way. I understand those reasons. But, I believe our economy is in a crisis, and I strongly believe we needed to act now to stabilize the markets and deal with the credit crisis in order to rebuild and strengthen our economy.
Even after this vote our work is not done, it will take more time to pull ourselves out of this mess, and I am committed to doing just that.”
The bill contains important measures to provide:
· Strong independent oversight, transparency, and accountability requiring Congressional review after the first $350 billion is disbursed
· Limits on excessive compensation for CEOs and executives of participating financial institutions
· Requiring a plan that would ensure taxpayers are repaid in full—or even make a profit
· Property tax relief for up to 30 million homeowners -- extending a new $1,000 per couple property tax deduction for non-itemizers
· Requiring the government to steer mortgages in danger of foreclosure to loan workout programs to keep families from losing their homes
· Important tax provisions to encourage investment in alternative and renewable energy.
Below are speeches I gave on the floor of the House of Representatives regarding our economic crisis and the economic rescue proposal.
Friday, October 3 – Click here to view floor speech about Senate amendments to H.R. 1424, Economic Rescue Plan/Tax Extender Package.
Thursday, October 2 – Click here to view floor speech in favor of Senate amendments to H.R. 1424, Economic Rescue Plan/Tax Extender Package
