Congressman Peter J. Roskam (R-IL) today voted against H.R. 3221, citing a lack of oversight of funds that will be made available to the Bush Administration as Congress raises the federal debt limit by $800 billion while also citing tax increase provisions that give Illinois' Governor Rod Blagojevich the ability to purchase foreclosed homes. Roskam released the following statement:
"I am thoroughly disappointed that the Bush Administration and Democrat Majority in Congress have decided to ram through legislation that puts hundreds of billions of taxpayer dollars at risk with absolutely no spending oversight. Expanding the government's reach, without checks-and-balances, is an affront to what our founding fathers set forth more than 200 years ago.
"As Congress is handing over authority to the Bush Administration to spend upwards of $1.2 trillion for a bailout of Fannie and Freddie, this irresponsible majority is trying to siphon funds away from them for massive government housing programs, further threatening the stability of Fannie and Freddie.
"On top of putting taxpayer dollars at unprecedented risk, this Congress is pushing through a tax increase for state and local governments to buy foreclosed properties.
"Do you want Rod Blagojevich to be your landlord?
"I will continue helping my constituents find resolution to their housing challenges in a responsible way that protects the taxpayer. We can do better than this legislation, and I will continue advocating for a more stable housing finance system that protects consumers and the economy without raising taxes. I look forward to the hard work ahead, forging a better America with affordable homeownership for all."