CONGRESSMAN HENRY CUELLAR RESPONDS TO ECONOMIC STABILIZATION ACT

WASHINGTON, D.C. – Congressman Henry Cuellar issued the following statement today in reference to his vote against H.R. 3997, The Emergency Economic Stabilization Act. H.R. 3997 did not pass the U.S. House of Representatives by a vote of 205 to 228.

"Today I voted against H.R. 3997 because I believe that to ensure we have a healthy economy, the country needs a broad-based economic recovery plan.  We need to take action to restore confidence in the U.S. economy, but not on the backs of the taxpayers.

"I've received many calls and emails from constituents across my district with the overwhelming majority opposing this bailout.  Furthermore, I spoke directly with business and finance industry leaders from all corners of my district and the consensus was that there are too many unanswered questions to undertake such a sweeping measure at this time.

"We still have major issues with the price of gasoline and diesel, the value of the dollar and families affected by losing their homes. This is why I voted in favor of two economic stimulus packages.

"I am very concerned about the economy and the global perception of our economy, and I believe that we need to grow our way to a healthier economy by creating jobs, increasing trade and improving our fundamentals. I look forward to working with my colleagues in a bipartisan manner to improve this legislation to reflect the concerns of the American people."