Press Releases
WASHINGTON (13 February) – U.S. Rep. Gus M. Bilirakis (R-Fla.), representing Florida's 9th Congressional District, today released the following statement after the House passed the Conference Report to H.R. 1, the American Recovery and Reinvestment Act:
"Our nation is in recession and millions of Americans are hurting, which is why Congress should have put politics aside, and gotten this right.
As Ranking Member, Bilirakis and the Subcommittee will investigate and report on the Department of Homeland Security's anti-terrorism and disaster response efforts, personnel management procedures, and procurement process. In addition, Bilirakis will serve as a member of the Homeland Security Committee's Subcommittee on Border, Maritime, and Global Counterterrorism.
"Our nation is facing a serious economic crisis and I believe we must do all we can to get our economy moving in the right direction again. Last year, Florida ranked second nationally with 255,000 job losses. This is precisely why Congress should be considering a stimulus bill which creates jobs; unfortunately we are instead considering a federal spending spree.
"I strongly opposed the bailout from the beginning and I oppose this attempt to facilitate the expenditure of TARP funds. The bill which passed the House today will expand the types of institutions that can receive TARP funds and increase the power of the Treasury to spend taxpayer funds with little accountability to the American people," said Bilirakis. "Congress should not release additional TARP funds without a clear strategy for deploying the remaining funds effectively and in a way that protects taxpayers."
The Amendment comes on the heels of a Congressional report indicating that the recent refusal of certain private financial institutions to provide any accounting of how they are using taxpayer money undermines public confidence.
"I am heartened that President-Elect Obama has called for bipartisanship as the development of economic stimulus legislation proceeds through Congress and I am encouraged that he has expressed his desire to provide substantial tax relief as part of this proposal." The letter said. "I believe my ideas should be part of any bipartisan effort to strengthen the economy."
H.R. 7276 requires Congress to vote on Treasury plans for utilizing the second $350 billion allocation available to the Secretary. The bill stipulates that no funds could be spent until after Congress passes a resolution that specifically approves of the Treasury's plan. Under the current law, the Treasury Department can spend funds without the approval of Congress.