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Local Voters, Congressional Leader React to Rescue Plan Save Email Print
WTAP News
Posted: 11:27 PM Oct 4, 2008
Last Updated: 11:27 PM Oct 4, 2008
Reporter: Leslie Cebula
Email Address: leslie.cebula@wtap.com

A | A | A

President Bush signed the $700 billion financial rescue plan that Congress voted into law Friday.

Voters across the nation and locally have been calling and writing legislators about what they think should be done.

"I just flew home from there yesterday afternoon late after probably the most important vote I'll ever make in my life," said Charlie Wilson
Congressman, D-OH (6th).

Congressman Wilson voted yes to the $700 billion rescue plan Friday that gives the goverment the authority to buy toxic mortgage-related investments and other distressed assets.

At the Lions Club Apple Butter Stir Off in Belpre, James Jordan said he understands why Congress and the President approved the legislation but he'd rather see that money come back here.

"We could certainly use that money for schools and job creation in the area," said Jordan.

Many of Wilson's constituents told him they didn't want him to vote for the plan, especially before the bill failed in the House Monday and the stock market plunged.

"People thought it was a $700 billion dollar loan, that's the cap," said Congressman Wilson.

Wilson said the first $350 billion can be dispursed immediately but the next half will require Congressional approval.

"I don't think we can take the chance of not supporting America in a very difficult time," he said.

But it's the price tag that made some republicans vote against the plan.

Sot: Rep. Steven latourette r-ohio "Cut the pork!" said Rep. Steven Latourette R-OH (16th).

Some Washington County residents said Saturday that even though the legislation isn't perfect, something needed to be done.

"I think right now a lot of people are just scared and I think the legislative branch is doing their best to take away that fear and say we have a plan," said Meridith Miller, an Ohio Valley Univeristy student and Belpre native.

"This plan was needed not just to help the stock market but to keep things moving in the economy," said Jordan.

Wilson also said the bill isn't perfect but it is necessary to get credit flowing again. Plus he said the tax ramifications from it will benefit thousands of Ohioans.

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Posted by: Marty Location: Pburg on Oct 5, 2008 at 02:39 PM
Anyone who voted for this "bailout" has lost my vote.

Posted by: Raven Location: Ravenswood on Oct 5, 2008 at 07:21 AM
Oh but of COURSE!!!! As if THIS surprises us! Lets see: so far we know that NASCAR; Hollywood; and now coal has raked in millions from this "bailout" as well as Wall St; CEOS; investment banks etc. No WONDER Bush was in such a hurry to sign this "important" bill! AND no wonder that our 3 WONDERFUL "reps", Byrd, Jay and Rahall were eager to sign off Any of you out there who STILL are delusional enough to think this bill was EVER about helping Mainstreet and normal Americans?Remember to Vote Out These Idiots in November.Vote Out The Democrats The Republicans and vote In the Liberal Independants.Its time Main Street took Back the White House.Main Street will Pay Dearly for this corruptional mis-use of our hard earned tax dollars.

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