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  • Foxx bill to halt bailout passes in House

    H.J. Res 3, the legislation sponsored by Congresswoman Virginia Foxx (NC-05) that would remove Congressional approval for the second $350 billion of the $700 billion TARP bailout, passed the House of Representatives on January 22.

     

    The bipartisan legislation (H.J. Res. 3) passed the House by a vote of 270-155.  The legislation is designed to take advantage of a provision in the 2008 bailout law that allows Congress to “disapprove” of the second half of the bailout.

     

    “Since October when Congress granted the previous Administration unfettered access to a taxpayer-funded blank check, we have seen a steady stream of reports outlining the mismanagement, waste, and lack of oversight that was all too predictable during initial consideration of the TARP Megabank bailout,” Foxx said during debate on the legislation  (Click here to watch Foxx’s speech on the House floor).

     

    If taken up and passed by the U.S. Senate, H.J. Res. 3 would bring the TARP bailout to an end.  According to the 2008 bailout law, Congress has the power to withhold the second half of the bailout—$350 billion—when the President requests the money.  Foxx’s legislation does just that.  

     

    “Deliberation, patience, and prudence yielded to panic and the product of those poor decisions has led us to where we are today,” Foxx said.  “As a result, the saying ‘Act in haste, repent in leisure’ has assumed a new and expensive meaning.  That is why we must reject the wasteful spending of another $350 billion in taxpayer money.”

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Press Releases

  • Foxx appointed to House Rules Committee

    01/13/09

    Washington, DC–House Republican Leader John Boehner appointed Congresswoman Virginia Foxx to serve on the House Committee on Rules today. The Rules Committee is the powerful House committee that determines what legislation comes to the House floor for a vote and under what circumstances that legislation is considered.

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Photo Gallery

Medal Presentation for Marion James

Medal Presentation for Marion James
Congresswoman Foxx presents medals to constituent Marion James at the King American Legion.

Brushy Mountain Apple Festival

Brushy Mountain Apple Festival
Mark Weaver meets Congresswoman Foxx at the Brushy Mountain Apple Festival in North Wilkesboro.

Stokes County Veterans

Stokes County Veterans
Congresswoman Foxx with local veterans at a flag dedication at North Stokes High.

Mount Airy Chamber of Commerce

Mount Airy Chamber of Commerce
Congresswoman Foxx stops by the Mount Airy Chamber of Commerce during the Autumn Leaves Festival.

Wittenburg Elementary School

Wittenburg Elementary School
Congresswoman Foxx with the Wittenburg Elementary School Student Council.

SSG Michael and Susan Coffey

SSG Michael and Susan Coffey
Congresswoman Foxx meet constituents SSG Michael Coffey and his wife Susan.

Foxx Demands Vote on American Energy

Foxx Demands Vote on American Energy

Purple Heart Ceremony

Purple Heart Ceremony
Congresswoman Foxx Mr. Leach, the last survivor of Pearl Harbor from Surry County.

A in English Award

A in English Award
Congresswoman Foxx receives the A in English Award from U.S. English for her work to preserve the unifying role of the English language in the United States.

Taxpayer's Friend Award

Taxpayer's Friend Award
Congresswoman Foxx receives the Taxpayer's Friend Award from the National Taxpayers Union .