Kuhl: This cannot and should not be a taxpayer bailout
U.S. Rep. John R. "Randy" Kuhl, Jr. (R-Hammondsport) issued the following statement Sept. 26 reiterating his call for quick, responsible, and comprehensive action on the financial market rescue plan that does not force hard-working taxpayers to foot the bill for reckless lenders and borrowers.
“Over the last week, I have participated in meetings, hearings, and numerous conversations with my colleagues about the financial market rescue plan. Throughout our discussions, the reoccurring point that I have adamantly conveyed is that I will oppose the Bush Administration’s proposal if it does not include provisions to protect the taxpayer. This cannot and should not be a taxpayer bailout. Congressional action must be centered on protecting those who have done the right thing, those who took responsible home loans and have worked so hard to keep up with their obligations as the faltering economy has made it harder to do so.
In addition, when a bipartisan solution emerges, it cannot include a golden parachute for CEOs and Wall Street Executives who played crucial roles in bringing us to the breaking point. I will not support any plan that allows Wall Street executives to walk away with millions of taxpayer dollars accumulating in their bank accounts. Our first priority must be to protect Main Street from the irresponsibility of Wall Street. Private companies will have to carry the financial burden in any rescue plan that I will support.
Today, as discussions continue on a financial market rescue plan, I am optimistic that we will come to a bipartisan, bicameral agreement that resolves the potential financial collapse that would be disastrous for American families, American workers, and businesses of all sizes. This is no time for petty politics and political games. Congress must protect our economy, protect American jobs, protect taxpayers, and protect individual bank accounts, retirement funds, homes, and college savings.
More than 500 of my constituents have called or emailed my office and I am grateful to hear from every one of them. But for those who have not contacted me, I need to hear their stance on this important issue. The economic livelihood of this country is the most important issue that Congress will take up and as such I need to hear my constituents’ views on this topic.”
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Washington D.C. Office – 202-225-3161
Bath District Office – 607-776-9142
Fairport District Office – 585-223-4760