Randy Kuhl Flip-Flops on Bush Bailout, Taxpayers Get "Hung Out to Dry"
Press Release
Randy Kuhl Flip-Flops on Bush Bailout, Taxpayers Get "Hung Out to Dry"
Kuhl on 9/29 - "I cannot ask my constituents, who have worked so hard to keep up their obligations on their homes, cars, and college loans for their children to foot the bill for irresponsible lenders and borrowers."
On 10/3 Kuhl votes yes on the Bush Bailout
WASHINGTON, D.C. - Earlier today, Randy Kuhl flip-flopped and voted for the $700 billion Bush-Kuhl bailout after voting against it on Monday. Randy Kuhl will have to explain why he voted for this bill, but here are 3 interesting factors in his vote.
1. First, unlike the first bill which Kuhl voted against, this one was loaded with wasteful pork projects including:1
* $192 million in rebates on excise taxes for the Puerto Rican and Virgin Islands rum industry
* $2 million tax benefit for makers of wooden arrows for children
* $100 million tax break to benefit auto racetrack owners
* $148 million in tax relief for U.S. wool fabric producers
2. After Kuhl voted against the first bill on Monday, he stated that about 1,200 of his constituents contacted him and asked that he vote no on the Bush bailout. Kuhl also said he would vote for the bill ONLY if taxpayers didn't have to foot the bill for Wall Street's irresponsibility. Here's what he said in his own 9/29 press release:2
"Over 1,200 residents of the 29th District have called or emailed my office to voice their opposition to the bailout legislation.
...
They all agree with me that we should not bankroll, at taxpayer expense, a bailout with a reported $1 trillion price tag."
Randy Kuhl also stated that any new Bush-Kuhl bailout bill must have adequate taxpayer protection in the same press release:
"I cannot ask my constituents, who have worked so hard to keep up their obligations on their homes, cars, and college loans for their children to foot the bill for irresponsible lenders and borrowers."
On WENY-36, he reiterated his position on October 2nd:3
"What I'm going to be looking for is to see whether or not the taxpayer has been really hung out to dry. Is it going to pick up the cost of the bailout at the expense of those unscrupulous lenders on Wall Street or whether or not there's significant protection for that person," Kuhl said.
What Randy told the taxpayers of the 29th District was clear --he would only vote for the bill if they weren't "hung out to dry" by the bailout. Here's the problem: today's version of the bill, which Kuhl voted for, has absolutely no change in the source of funding. TAXPAYERS ARE STILL ON THE HOOK FOR THE MESS, OR, AS RANDY KUHL HIMSELF SAID, "HUNG OUT TO DRY."
The American taxpayer is still funding the Bush-Kuhl bailout. Kuhl's press release today pointed to two changes in the bill.
1. FDIC increase - This has nothing to do with how the $700 billion is funded, it's still on the backs of average tax payers.
2. The AMT credit - This also has nothing to do with how the $700 billion will be paid for.
3. If 1,200 constituents asked Mr. Kuhl to vote against the bill, and Kuhl's own requirements to vote for a new bill were not met - then why did the Congressman vote for the bill? Kuhl's comments yesterday in the press might lend some insight:4
"Politically I may have cost myself a lot of money in campaign contributions because I said No to this," [Kuhl] said, noting the Chamber of Commerce and other business associations who have traditionally donated to his campaign aren't pleased.
Randy Kuhl has accepted over $1 million in corporate PAC money, and clearly he has sided with these corporate special interests over the interests of the average taxpayer.
On 10/2, Politico published an article entitled "Businesses lobbying hard for bailout"5
"In the wake of the stunning House defeat of the $700 billion economic rescue plan, the business community has launched an unprecedented lobbying blitz to polish the plan's public image and change some votes.
...
Congressional leaders spent Wednesday adding some sweeteners to the package."
It looks like the business lobbyists won over Congressman Kuhl's vote.
"Randy Kuhl has taken over $1 million in corporate special interest money, and then he goes back on his word to the people of our district and votes to spend $700 billion of our money bailing out those same interests on the backs of everyday taxpayers," said retired Navy Commander Eric Massa. "This is exactly why I am running, because I think Washington is broken and it's time for a change."
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