Weller votes 'yes' on financial rescue plan
Washington,
Oct 3, 2008 -
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 11th 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.”