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Eye On Boise

Mon., Sept. 29, 2008, 1:09 p.m.

Simpson: ‘Greater risk for taxpayers is not acting’

2nd District Congressman Mike Simpson said today that his vote for the financial bailout bill was “not to protect the fat cats on Wall Street, but to help Main Street by stopping the decimation of saving and investments, and the inability for businesses to borrow money for improvements and to pay their employees. Here’s Simpson’s statement:

“I did not make this vote lightly. Rather, it was one of the toughest votes I have ever cast. I voted yes on the bill because I sincerely believe the greater risk for taxpayers is in not acting. The bill we voted on made substantial improvements over the President’s initial offer including robust protections for taxpayers, an end to golden parachutes for corporate executives, and substantial limits on how the Treasury can use the funding made available. My first priority in looking at this bill was protecting taxpayers, retirees, small businesses, farmers, and Idaho families from the fallout of a major economic decline. I am not sure where we go from here but whatever course of action is required by Congress I will continue to focus on its impact on the people of Idaho – not the fat cats of Wall Street.”

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Eye On Boise

Short takes and breaking news from the Idaho Legislature and the state capital.