TCRP Calls for Texas Delegation to Vote NO on Bailouts

FOR IMMEDIATE RELEASE: January 29, 2009
Contact: Joe Gimenez, 512.358.1041

Travis County Republican Party Votes NO on Bailouts
Countywide Precinct Chairs Unanimously Oppose Congressional Largesse

AUSTIN – The grassroots organizers of the Travis County Republican Party unanimously approved exerting pressure on Travis County’s Congressional delegation to stop the TARP-bailouts of financial institutions and failing businesses.

At its regular quarterly meeting of its Executive Committee of precinct chairmen Monday, the TCRP approved sending a clear message that local Republicans are dismayed at the lack of fiscal responsibility on display in Washington.

“Ever since the bailouts were announced in September there’s been strong grassroots opposition to throwing good money after bad in bailing out mismanaged institutions,” said Rosemary Edwards, the TCRP chairwoman. “We want Senators Kay Bailey Hutchison and John Cornyn, as well as Congressmen Lloyd Doggett, Michael McCaul and Lamar Smith, to know that their supporters back home are closely watching their votes on this matter. We want fiscal responsibility in Washington, D.C.”

The TCRP measure urged its delegation to:
• Cease all future bailouts of financial institutions and failing businesses by TARP, Treasury Department or other executive action, Congressional action and/or the Federal Reserve, and
• Discontinue all bailouts already offered, but not yet given in part or whole, and
• Repeal TARP, and
• If TARP cannot be immediately repealed, pass an amendment requiring complete transparency of the actions of the United States Secretary of the Treasury and his subordinates regarding the bailouts.

“It was also my sense at the meeting that Travis County Republicans feel the fiscal ‘stimulus’ offered by the Democrats is not going to produce the private sector jobs that have driven our economy since the 1980s, when Ronald Reagan cut taxes and demonstrated the revenue positive effects of inspiring entrepreneurial activity and corporate investments. I think it’s safe to say all of us here in Travis County would like to see our Congressional delegation take a stand for lower taxes, a true stimulus measure,” Edwards said.

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