Friday, November 21, 2008

Senator Inhofe Delivers Floor Speech on Halting Handout of Bailout Funds

On Monday,Senator Inhofe introduced legislation to amend Section 115 of the Emergency Economic Stabilization Act (EESA) to require an affirmative vote on the part of Congress to approve Treasury's plan for the remaining $350 billion and require a freeze on any remaining funds of the first $350 billion, stating, "It is imperative that we not allow that amount of money to be added to a deficit approaching $1 trillion this year without any input from the legislative branch."

In a speech on the Senate Floor, Senator Inhofe went on to say, "Congress completely abdicated its responsibility by signing a truly blank check over to the Treasury Secretary. However, the lame duck session of Congress offers us a tremendous opportunity to change course. We should take it."

Read Jim Inhofe's NRO article on why the bailout money needs to be stopped, here.

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