Lummis Delivers First House Speech

Press Release

Lummis Delivers First House Speech

U.S. Representative Cynthia Lummis, R-Wyo., has delivered her first speech on the floor of the U.S. House of Representatives.

Lummis spoke out against Washington's plan to release an additional $350 billion in Troubled Asset Relief Program (TARP) funding, also known as the bailout bill.

"Washington D.C. has often been described as 70 square miles surrounded by reality," Lummis said. "Only in this town can people actually believe that throwing more money down a rabbit hole during these harsh economic times will produce positive results."

"Wyoming people are right to express their frustration about how their taxpayer dollars were spent under TARP. I believe their hard-earned money has gone to waste due to a lack of accountability and transparency under this program."

Lummis is supporting a resolution, H.J. Res. 3, that expresses the disapproval of the House to allow the Treasury to draw on another $350 billion of taxpayer money to help the nation's banks, auto industry and foreclosure assistance.

"TARP funding was originally meant to stop the downward spiral of the banking industry, and while I opposed it from the beginning, I'm even more appalled by how the funding has been redirected."

"With a possible trillion dollar stimulus package just over the next hill, we as a Congress, and we as a nation, need to assert some fiscal discipline. The release of the additional 350 billion dollars, especially after the lack of knowledge on how the first half has been spent, is not fiscal discipline. It is inexcusable."

"It is poor planning on the part of Congress to release this money without giving real consideration to how it will be used or whether its goals will be met."

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