The House just voted 263-171 to approve the federal bailout, and this time Rep. Randy Kuhl, R-Hammondsport, Steuben County, voted to approve it. He was the only Republican in New York to vote against it the first time last week.
â€œToday’s legislation,” he said, “is a drastic improvement over the Bush Administration’s plan, which I voted against because it failed to address the fundamental cause of this problem and did not protect the taxpayers from picking up the tab for Wall Street losses. This plan protects New York taxpayers from higher income taxes under the AMT and will save jobs in Western New York”
Kuhl’s opponent, Democrat Eric Massa, also had problems with the original bailout, which was defeated by the House.
Updated: Rep. Louise Slaughter, D-Fairport, again voted for the measure. Here’s some of her statement:
“Like so many Americans, I have absolutely no interest in bailing out any of the ‘fat cat’ executives on Wall Street.Â I stand firm in my belief that corporate greed should never be rewarded.
“However, this crisis is bigger than corporate greed. It reaches beyond Wall Street and directly into the lives of hard working, middle class Americans.
“Without decisive action, most experts believe our economic situation will only grow worse â€“ credit markets will freeze and Main Street will suffer.Â Families living paycheck-to-paycheck will see their credit card limits slashed and interest rates increase.Â Families wonâ€™t be able to take out basic home and car loans and employers wonâ€™t be able to make their payrolls.Â It is for this reason that Congress must intervene.”