Titus: Bailout Package is One More Example of How Washington is Broken

Statement

Titus: Bailout Package is One More Example of How Washington is Broken

Third Congressional District Candidate Dina Titus released the following statement on the bailout bill that passed in the House of Representatives today.



"Today's vote in the House of Representatives is one more example of how Washington is broken and why we need change. Nearly the same bailout bill that failed in the House last week passed today because it was loaded with critical tax breaks that deserved to pass on their own merits.



"For eight years, George Bush turned a blind eye to the unregulated mortgage market. For six years, Jon Porter marched in lock step, accepting more than $1.6 million from the financial, insurance, and real estate sectors. Their failure to provide proper oversight and regulation has left us in the current economic mess. And Jon Porter supported this legislation before the tax cuts were added, when it was nothing more than a bailout for Wall Street.



"I opposed the original House bill because it did not include the necessary regulation and oversight to ensure that this crisis does not happen again. The bill also failed to provide the necessary assistance for families who played by the rules yet still face foreclosure. And in the Third District, which has been hit the hardest by the foreclosure crisis, people need relief. Sadly, Jon Porter failed to stand up and fight for any significant improvements that would directly help people here in the Third District. As a member of Congress, I will continue to fight for hard-working Nevadans who continue to face the prospect of losing their home.



"The taxbreaks that the Senate added to the package will benefit millions of Americans and have a significant impact here in Nevada. The tax credits for renewable energy, something that I called for in my jobs plan and championed in the State Senate, are critical to Nevada's economy and will help stimulate development in our region by attracting good jobs and new businesses. I support tax relief for small businesses and for the middle class by extending the Child Tax Credit and ensuring families are protected from the Alternative Minimum Tax. It is unfortunate that in order to pass these important tax cuts Congress had to bail out Wall Street in the process.



"The package voted on in the House today is far from perfect and I am disappointed that more was not done, especially for families facing foreclosure in the Third District. But with so many critical tax breaks in this bill that will help Southern Nevada, I would have reluctantly supported the broader package."

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