(WASHINGTON, D.C.) – Congressman Dennis Moore (Third District – Kansas) released the following statement in response to today’s House vote on H.R. 3997, the Emergency Economic Stabilization Act:

“I’m concerned, like many of my constituents, that our country is faced with the choice Congress faced today.

“The bipartisan bill the House voted on today was supported by the leadership in both parties, as well as Senators Obama and McCain. And the legislation was supported by the U.S. Chamber of Commerce, National Association of Home Builders, National Association of Manufacturers, Edison Electric Institute, National Federation of Independent Business and the National Automobile Dealers Association.

“I voted for this bipartisan compromise because it took the necessary steps to protect American taxpayers, including a recoupment provision to ensure that every dime of taxpayer money is paid back in full. Today’s bill also included provisions to ensure aggressive congressional and judicial oversight of the rescue programs, as well as no taxpayer-funded ‘golden parachutes’ for careless Wall Street CEOs. The bill would have spread out the expenditures to make sure they are really needed, and mandated: 48-hour posting of all transactions on the Internet; warrants so the taxpayers share profits; aggressive foreclosure mitigation activities, tax provisions helping community banks; and independent Inspector General oversight.

“But make no mistake, inaction is not an option. The Dow dropped 777 points and our economy hangs in the balance as the choking off of credit will only increase the costs and difficulties for anyone who borrows to pay a mortgage, college tuition, buy a car, or purchase small business inventory. This will adversely affect retirement plans and seniors who are retired.

“I urge Congress to remain in session until this economic crisis is addressed. I will continue working with any Republican or Democrat who is willing to put country before party, and our economic security before ideology. We must put aside our differences and do what is in the best interest of our country. We owe the American people no less."