Statement of Idaho Senator Larry Craig on Senate Passage of Economic Rescue


By:  Larry Craig
Date: Oct. 1, 2008
Location: Unknown

Statement of Idaho Senator Larry Craig on Senate Passage of Economic Rescue

Idaho Senator Larry Craig tonight issued the following statement about his vote in the U.S. Senate in favor of the economic rescue bill:

"I am convinced this investment, which the Treasury should be able to recoup, will bring the stability to the financial markets that Idaho and the nation need to avoid a credit meltdown that would impact individuals seeking home, vehicle or student loans, small businesses struggling to stay afloat, and retirees trying to protect their life savings," Senator Craig said. "Doing nothing is not an option, and I would have voted for the original House bill supported by Idaho Congressman Mike Simpson, because it protected taxpayers, eliminated golden parachutes for greedy CEOs, and gave Congress the authority to end this rescue if it is not serving the taxpayers and the economy.

"But the bill approved by the Senate tonight goes a step farther by fully funding the Craig/Wyden 'county payments' program to rural schools for four years, with a 75 percent increase for Idaho schools, and by protecting middle class taxpayers this year from the burden of the Alternative Minimum Tax.

"Now that the Senate has come together on this bipartisan effort, I hope Congress will focus on finding common ground on a balanced energy plan - including new production - that will provide relief to the budgets of every American family and business devastated by soaring gasoline and other energy prices."

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