Capito Votes to Protect Taxpayers, Says ‘No' to Largest Bailout in History

Press Release

Rep. Shelley Moore Capito (R-WV) released the following statement today after voting to oppose legislation that would have bailed Wall Street - to the tune of $700 billion - on the back of West Virginia taxpayers:

"Today, the American people stood up to say they wouldn't stand for a $700 billion bailout," said Capito. "As a steward of West Virginia tax dollars, I couldn't in good conscience support something that would have amounted to the largest bailout in history, nor was I willing to turn my back on my constituents who were adamantly opposed to this proposal.

"A problem with its roots in bloated mortgages and Wall Street board rooms shouldn't fall at the feet of taxpayers for a fix. West Virginia families who pay their bills on time and play by the rules deserve far better than this $700 billion bet that would shoulder enormous debt on our children and grandchildren in the blink of an eye.

"We are in uncharted waters and I have a fundamental disagreement with the idea that we were about to spend $700 billion of taxpayer money to protect Wall Street investments without significant assurances that this would work.

"This is too much money, with too little time, too little support and no way to know if the plan would even do the job.

"Now we can come back to the drawing board and work for an outcome that is more in line with the needs or West Virginia taxpayers."

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