News Releases

Friday, October 3, 2008

Chambliss, Isakson Statement on House's Passage of Legislation to Stabilize Economy

WASHINGTON - U.S. Senators Saxby Chambliss, R-Ga., and Johnny Isakson, R-Ga., today issued the following joint statement after the U.S. House of Representatives adopted the bipartisan financial rescue package. The legislation was approved by the House by a vote of 263 to 171.

"We commend those members of the U.S. House of Representatives who put their country first to vote for this important legislation. Make no mistake, none of us were happy to find our economy being assailed by the failed financial decisions of unscrupulous Wall Street executives and none of us wanted this rescue proposal to cost so much. However, this financial crisis has cost people their jobs and put small businesses at risk. It has ransacked individual retirement accounts and frozen the credit available for businesses, home purchases and car purchases. Main Street was feeling the breath squeezed out of them, and we could not simply turn a blind eye and hope for the best. This may be the most significant vote many of us will ever take and we know our support of this measure was the right thing to do for our children and grandchildren, for Georgians and for our country. With this action, our economy and our people can begin to heal."