Congressman Faleomavaega announced today that, due to his duties in Washington regarding the nation’s financial crisis, he will not be able to make the first taping of Congressional speeches to be aired by KVZK on Thursday evening October 2. 

“I regret that I will not make it for the first round of taping set for the morning of Thursday Oct 2 due to my duties and responsibilities here in Washington DC,” Faleomavaega said.  “On Thursday Oct 2, Congress will possibly take up rescue legislation for the nation’s economy and it is uncertain at this time whether or not we will be in session this weekend.” 

“Due to these unprecedented circumstances, I have asked KVZK and the Election Office to permit me to do my first round of taping upon my arrival in the Territory.  I also plan to do my second round of taping as scheduled by KVZK for Oct 9, if Congress has concluded its work.”

“As our people know, we are facing an economic crisis as serious as any that has faced our nation, and we remain committed to working in a bipartisan way to address this crisis.  Most of us who are up for re-election are putting our campaigns on hold so we can resolve this crisis as soon as possible since the nation stands to face a recession if no action is taken immediately,” Faleomavaega stated.

“On Monday, the Democrats in the House delivered 140 votes – 60% of the Democrats Caucus – in favor of the financial rescue plan.  Republicans delivered only 65 votes, just 33% of their conference, and with the combined number of votes needed for passage short, the $700 billion bill designed to bail the nation failed.” 
 
“Following the House vote, the stock market plunged and CNN estimated the loss to be at $1.2 trillion.  Middle class Americans instantly saw their 401-K pension plans, and college accounts lose value.  Without decisive action, most financial and economic experts believe the situation will only grow worse, credit markets will freeze, and Main Street will suffer.” 

“Families won’t be able to take out basic home and car loans, small businesses won’t be able to make their payrolls, and credit card interest rates will soar,” Faleomavaega continued
 
“House leaders are working closely with the administration and in a bicameral, bipartisan way to find a solution that can be acted on without delay.  It is our intent to build on the good work of the last week or so to stabilize our economy, protect the American taxpayer, enact strong oversight and transparency, bring accountability to Wall Street with limits on CEO compensation and golden parachutes, and to sequence the funding to ensure Congressional review and cost controls.”

“As I stated previously, the US House of Representatives is scheduled to meet again at 12:00 p.m. on Thursday, Oct 2.  Beyond that is uncertain. Whether this will be a pro forma session, or whether there will be additional legislative business this week has not yet been determined,” Faleomavaega said.

“Because of these extraordinary circumstances, I am not sure when I will be able to come back and work on my campaign for re-election.  Like all of us here now, there is a pressing issue of national and international concerns that require our presence and immediate attention above and beyond politics and campaigning.  All of us are committed to putting country first.”

“Nevertheless, I would like to extend my regrets to our people for not being able to present my views on the evening of Thursday Oct 2 as one of the congressional candidates in this election.  But I am hopeful that KVZK-TV Director Paolo Sivia, FM 104, and the Election Office will support my request for equal time.  I also hope to make it to the ASCC forum and the Chamber of Commerce presentation as soon as Congress brings its work to a close,” Faleomavaega concluded.