MESSAGE FROM CONGRESSMAN STENY H. HOYER
The turmoil in our nation's economy has reached new heights in recent weeks with the collapse of major financial institutions and the subsequent tightening of available credit. While it is Wall Street that has taken the immediate hit, the consequential threat to the overall economy and individuals is very real.
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| Rep. Hoyer speaks on the financial rescue plan Thursday after a meeting at the White House. |
Since becoming evident that this crisis would require immediate action, the Administration has put forward a plan that will enable the government to purchase illiquid assets clogging up the financial system. The hope is that the rescue will allow frozen credit markets to thaw and help families keep their homes in the process.
While we are focused on a response that will stabilize the financial markets and rescue our economy, Congress has made clear that we will not simply hand over a $700 billion blank check to Wall Street and hope for the best. With Republicans and the Bush Administration, Democrats have worked to significantly improve the proposal and protect the taxpayers' interests.
We want to ensure the package will include rigorous and independent oversight and accountability; keep CEOs and Wall Street executives from bailing out with golden parachutes; help American homeowners maintain value in their homes; and provide equity for the American taxpayer.
Congress will continue working around the clock until we have a bipartisan solution that will help all Americans by putting our economy back on the road to recovery. As always, thank you for allowing me to share this update with you. If there is anything you wish to bring to my attention, please do not hesitate to contact my office.
Sincerely yours,
Steny H. Hoyer
NEWS UPDATE
Hoyer Applauds House Passage of Final Legislation Authorizing Federal Funding for America's Subway
Legislation authorizing $1.5 billion in federal funding for the Washington Metro Area Transit Authority unanimously passed the U.S. House of Representatives Thursday, marking the closest the long-sought measure has come to becoming law.
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President Signs Hoyer ADA Amendments Act into Law
The President this week signed legislation authored by Congressman Steny Hoyer to strengthen protections for Americans with Disabilities.
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Hoyer on President Bush's Address to Nation on Economic Crisis
Congressman Steny Hoyer issued a statement on Wednesday evening in response to President Bush's address to the nation regarding the economic crisis.
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Watch Hoyer on Fox 5
Watch Hoyer on CNN
Hoyer Praises House Approval of 3.9% FY09 Pay Adjustment for Federal Civilian and Military Employees
U.S. Congressman Steny Hoyer hailed action taken by the House of Representatives to approve a 3.9 percent pay adjustment for federal civilian employees and military personnel for FY09.
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