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Foxx opposes proposed $700 billion bailout

“Our country is facing an historic economic challenge that requires action on the part of Congress.  Our main objective in confronting this challenge should be putting our country first—which ultimately means taxpayers and future generations.  The people of Northwest North Carolina have clearly expressed their outrage over the current proposal. (click here to read the text of the bill)


“I am very concerned about the unprecedented direction that this economic recovery package will take our country.  This plan puts taxpayers, their children and their grandchildren on the hook for the bad decisions of Wall Street and government sponsored enterprises.  Taxpayers deserve better.


“Congress is considering another massive government intervention into America’s economy.  It will fundamentally change our marketplace by rewarding financial companies that made bad decisions and placing those who exercised prudence at a serious disadvantage.  And it does all this with the tax dollars of hard-working North Carolinians.  Congress must protect American citizens who have played by the rules and not do long-term harm to the values we hold dear." (Continued, click here to read more.)

 Learn more:
Click here to visit Virginia's economic info center
Learn more about the common-sense plan that Virginia supports
Foxx: "Our economy is sick, let’s make sure we prescribe the right medicine"
Foxx statement for Congressional bailout hearings
IBD: 'Crony' Capitalism

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