Pence Supports Plan To Protect Responsible Homeowners

Press Release

U.S. Congressman Mike Pence voted in favor of a proposal that would ensure that no Troubled Asset Relief Program (TARP) funds would be used to bail out lenders or borrowers who acted irresponsibly:

"The vast majority of Hoosiers have found ways to consistently pay their mortgages on time in spite of these tough economic times-they should not be forced to subsidize the irresponsible, reckless and sometimes criminal actions of a few.

"No one wants to turn a blind eye to those who-through no fault of their own-have fallen on hard times, but Hoosiers don't want a handout either. This motion is about fairness and protection for the responsible homeowners in Indiana.

"This motion would prohibit the taxes of millions of responsible Hoosiers from going to lenders who failed to comply with proper standards, or borrowers who lied on their mortgage applications. Even in the times of hardship, we should not sacrifice the principle of personal responsibility at the altar of bigger federal government. We should pursue the kind of policies that encourage responsibility and incentivize sound judgment.

"Hoosiers of East Central Indiana deserve nothing less, and should pay for nothing more."

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