Thursday, October 2, 2008

Bayh and Lugar Support Revised Bailout Package

A revised bailout bill hit the Senate floor yesterday afternoon, where it passed with a not even close margin of 74-25. Both hoosier Senators opted to vote in favor of the pseudo-revised legislation, which diverged from its House counterpart in that it granted increased tax breaks for businesses and the middle-class while also raising the federal deposit insurance from $100,000 to $250,000. In statements to the press:

Evan Bayh
“The current proposal is no panacea. More difficult decisions lie ahead. But it is better than doing nothing, and that is the alternative.”
Richard Lugar
“The financial rescue legislation will restore credit flow to homeowners, businesses, farmers and all the people who, by the very nature of their businesses, need to borrow money to maintain their activity and keep employees.”
I think this is the first time I can truly agree with both of them.

No comments: