The Bailout bill is getting bigger

It now also “bails out” Hollywood actors from working overseas as well as Wall Street executives!

Others were aimed at narrower interests to win the votes of specific lawmakers, such as a tax break to encourage Hollywood studios to do more filming in the United States.

The tax provisions added more than $100 billion to the cost of the plan.

http://www.latimes.com/business/investing/la-fi-bailout2-2008oct02,0,1307485.story

However, there are still some representives with backbone in congress:

Rep. Lloyd Doggett (D-Texas) was similarly unpersuaded. “The Senate measure has changed my position from ‘No’ to ‘Heck no,’ ” he said. “With the Senate amendment, the bailout has gone from bad to worse, $105 billion more in public debt worse.”

Here is what my rep, Joe Pitts – has to say:

Congressman Joe Pitts (PA-16) today released the following statement after voting against the Emergency Economic Stabilization Act of 2008: “Doing something about the current market situation is critically important, but rushing to approve a flawed bill violates the responsibility I have to my constituents. I could not support forcing the taxpayers to carry the burden of $700 billion in poor financial decisions on Wall Street. This bill would have fundamentally altered the relationship between the government and our financial system.”

http://www.house.gov/pitts/

…and here is a great speech by Rep. Thaddeus McCotter (I wonder if he is related to Jim?).

 

 

 

 

 

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