Harkin Statement Regarding Vote on Emergency Economic Stabilization Act

Statement

Harkin Statement Regarding Vote on Emergency Economic Stabilization Act

Senator Tom Harkin (D-IA) released the following statement today regarding his vote for the Emergency Economic Stabilization Act of 2008.

"I reluctantly voted in favor of this bill because I believe our nation's financial system faces serious challenges, and it is important for us to act. However, I am under no illusions. I firmly believe that Congress should not have been rushed into this action, but we needed to do something to calm the markets and restore confidence in our economy. While this package will do that in the short term, we must modify it early next year to strengthen and improve the rescue framework - and I will be leading the charge to do that.

"Over the last week, I did my best to strengthen and improve this package, including demanding the creation of a Special Inspector General to oversee the emergency efforts of the Treasury Department, and to investigate the any waste, fraud, and abuse as the bailout goes forward. I was pleased to see that this recommendation was included in the final bill.

"I also chose to support this bill because of the provisions that are vitally important to my home state, including tax breaks for Iowans and Iowa businesses recovering after the floods and tax benefits that will create new jobs in the wind and biofuels industries.

"This bill also includes the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 that will help countless Iowa families by ensuring that mental health and addiction treatment are covered in the same way as other serious illnesses. My friend Senator Wellstone fought with his characteristic passion for mental health parity legislation, and I have been honored to carry on that fight."

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