Link to the Legislation To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes.
GAO Report on the TARP Funds Continued Stewardship Needed as Treasury Develops Strategies for Monitoring and Divesting Financial Interests in Chrysler and GM
Speaking out against the Home Affordable Modification Program (HAMP) and its effects on communities and neighborhoods in Ohio's Third District. These remarks were made at a House Oversight and Government Reform Committee hearing, with testimony from Special Inspector General for the Troubled Asset Relief Program, Neil Barofsky.
Recently Mike Turner spoke to the Wilmington Rotary Club. In this segment he talks about the mortgage foreclosure crisis and why he voted against the TARP.
At a recent meeting of the Downtown Dayton Kiwanis Club, Congressman Turner spoke about why he voted against TARP.
On Wednesday, January 27th, Congressman Turner questions Secretary Geithner on AIG’s solvency, their bailout, and the mortgage foreclosure crisis.
Congressman Turner questions Interim Assistant Secretary of the Treasury for Financial Stability Neel Kashkari about the federal governments bailouts of AIG during a recent Domestic Policy Subcommittee hearing.
Congressman Turner questions Eric R. Dinallo, Superintendent of the New York State Insurance Department on the causes and effects of the AIG Bailout before the House Oversight and Government Reform Committee
Congressman Turner questions AIG Chairman and CEO Edward Libby on his company use of federal bailout funds before the House Oversight and Government Reform Committee.
Rep. Turner questions former Treasury Secretary Henry Paulson about his role in Bank of Americas September 2008 acquisition of Merrill Lynch before the House Oversight and Government Reform Committee.
Congressman Turner questions financial experts on the causes and effects of the Lehman Brothers Bankruptcy before the House Government Reform and Oversight Committee.
Congress Passes Bill to Increase Scrutiny of TARP Fund Use U.S. Representative Mike Turner today announced the House of Representatives approved H.R. 1242, legislation to amend the Emergency Economic Stabilization Act of 2008 to provide for additional monitoring and accountability of the Troubled Assets Relief Program. H.R. 1242 passed the House Wednesday evening by a 421 to 0 vote.
It’s Time to Halt the Government’s Takeover of the Economy According to news accounts, the Treasury Department isn’t ruling out keeping the federal government’s bailout program going beyond its one-year authorization. This follows the president’s recent speech on expanding government control of financial institutions. What’s missing is a firm government exit strategy from its takeover of banks and auto manufacturers.
Reckless Government Spending Threatens America’s Future The Obama Administration has increased pressure on Congress to pass health care reform before early August with seemingly little regard for the ultimate cost to the taxpayer. As the federal government continues to dive headlong into unprecedented debt with increasing speed, the Administration justifies each deeper plunge as “urgent.” What’s becoming clear to more Americans is an urgent need to slow down and consider the effects of too much deficit spending.
National Spending Bill Simply Not Good Enough Working American families have unfortunately felt the crunch of our nation’s economic downturn. As budgets have become tighter, families have had to make tough choices on how they spend their hard earned money. While American families have been making these tough decisions, Congress has spent the last year, under two different administrations, passing massive spending bills that have failed to effectively resuscitate our national economy. One such bill was the recently passed nearly $800 billion federal spending package. While some of the allocated funds are worthwhile, I opposed the bill because it spends money we don’t have on a number of programs that won’t stimulate our economy.
Congressman Turner Calls for More Accountability and Transparency in the Use of TARP Funds. Congressman Michael R. Turner, cosponsored bipartisan legislation to ensure increased transparency and accountability in the use of TARP funds. TARP is the Troubled Asset Relief Program created as part of the $700 billion bank bailout passed by Congress, and opposed by Congressman Turner, in October of 2008.
Turner Remains Opposed to $700 Billion Blank Check Bailout Congressman Michael R. Turner today voted in opposition to the $700 billion blank check bailout of American banking and financial institutions. Rep. Turner supports bringing legislation forward to address our current financial crisis but believes that this rashly considered bailout fails to address the real issues plaguing our markets and may do more harm than good to taxpayers.
Turner Opposes $700 Billion Blank Check Bailout Congressman Michael R. Turner today opposed the unprecedented $700 billion bailout of American banking and financial institutions. Congressman Turner opposes this bailout because:
Government Bailouts Must Stop Eight months after Congress passed toxic asset relief, a growing number of Americans, including many in Congress, are questioning government bailouts. Furthermore, a poll shows more Americans want the President’s stimulus spending program halted. Both programs have thus far failed to achieve their goal of strengthening the economy and their ballooning of the federal budget deficit will ultimately do more harm than good.
Rep. Turner's Statement for the Record on $700 Billion Bailout Last week, Congress considered the highly controversial $700 billion bailout of Wall Street financial institutions. I voted against this proposal and, in place of my regular weekly column, I ask you to please read this statement I submitted in the Congressional Record.
