Alexander Statement on Motion to Disapprove $350 Billion in Financial Rescue Package

Posted on January 15, 2009

U.S. Senator Lamar Alexander (R-Tenn.) today released the following statement regarding his vote against a resolution to prohibit release of the remaining $350 billion portion of the Economic Rescue Plan approved by Congress in October: “I voted today the same way I did in October because both the current president and the incoming president have said this is an essential insurance policy against financial catastrophe. This is not spending; this is lending money with interest that taxpayers should get back. I would not have voted this way if President-elect Obama had not assured us that he will use this money as it was intended: to keep credit flowing by strengthening financial institutions and housing markets, and not for new industry-by-industry bailouts.” ###