Congress has passed the $700 billion bailout legislation to shore up the nation’s stressed financial industry.
Friday’s 263-171 vote by the House sent the Senate-passed version to the White House, where President Bush quickly signed it into law. Among many features, the bailout measure would allow the Treasury Department to buy up bad debt from various lending institutions.
Idaho First District Rep. Bill Sali, who voted against the proposal earlier this week when it failed in the House, again voted no.
US Rep. Bill Sali (R-Idaho) comments
It includes another $120 billion worth of sweeteners designed to win support. Sali says the bailout bill is bloated and fails to address the underlying problems that led to the current financial meltdown.
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Washington 5th District Rep. Cathy McMorris Rodgers also voted no. Idaho’s other House member, Mike Simpson, voted for the measure, calling it a necessary evil in order to stem financial concerns.
In the U.S. Senate this week, Republican Larry Craig voted for the bailout, while Republican Mike Crapo voted against it, saying it didn’t do enough to protect taxpayers. (AP)
The U.S. House on Monday defeated a $700 billion rescue plan for the nation’s financial markets.
The 228-205 vote against the plan sent stocks plummeting, with the Dow Jones Industrial Average down 750 points - its worst single-day drop ever. Bill supporters were unable to convince enough members of either party to switch their votes against the proposal.
Idaho Republican Congressman Bill Sali was among those opposed to the plan, and Sali spokesman Wayne Hoffman called the result “a pleasant surprise.”
Wayne Hoffman, spokesman for US Congressman Bill Sali (R-Idaho), comments
There are reports that U.S. House leaders were planning a second attempt to pass the bill, and lawmakers on both sides of the aisle suggested the legislation is not dead.
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Ample no votes came from both the Democratic and Republican sides of the aisle. More than two-thirds of Republicans and 40 percent of Democrats opposed the bill. (AP)
The U. S. House of Representatives has unanimously approved Idaho Congressman Bill Sali’s resolution honoring the 232nd anniversary of the signing of the Declaration of Independence.
Sali says it’s most fitting that the measure passed with the unanimous consent of his colleagues in honoring one of the most treasured documents in the country’s history.
Despite Congress taking their August recess, Idaho Reps. Bill Sali and Mike Simpson are participating in the efforts of House Republicans to call for a vote on domestic oil and gas production immediately.
Sali was in Washington, D.C., last week, and Simpson will return next week to insist that House Speaker Nancy Pelosi call the House of Representatives back into session so it can deal with high gas prices.Sali was one of 50 lawmakers who remained on the House floor when the session adjourned two weeks ago, and spoke on the floor out the out-of-session House last week.
US Representative Bill Sali (R-Idaho) comments
Sali, who voted against adjournment for the five-week recess, is a co-sponsor of several bills that contain more oil production, as well as conservation and emphasis on new alternative energy technology. Sali has also introduced legislation to provide a tax credit to Americans to help offset the impact of high gas prices.
Idaho Rep. Bill Sali is urging Idahoans to send their ideas on energy issues as well as their fuel receipts to his offices so that he can forward them to House Speaker Nancy Pelosi.
Sali says he wants to illustrate for Pelosi the hardship that high gas prices are having everyday in Idaho’s 1st Congressional District.
US Rep Bill Sali (R-Idaho) comments
Sali continues to emphasize the need to boost American energy exploration and production.
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Idahoans who want their gas receipts forwarded to Speaker Pelosi can send them to Sali’s offices in Lewiston, Boise, Caldwell, Coeur d’Alene and Washington, D.C.
Idaho U.S. Representative Bill Sali retired about $10,000 of his remaining debt during the latest reporting period ending June 30, leaving him owing about $125,000 from his 2006 campaign.
Sali has yet to have his fundraising details posted on the Federal Election Commission Web site, as was required by July 15.A Sali spokesman says technical glitches had prevented the campaign from uploading the material.
The Republican Congressman has about $250,000 in cash on hand. (AP)
Idaho First District Rep. Bill Sali last week led a national debate on forest fires, saying Congress needs to do more to actually prevent forests and rangeland from going up in flames – as is happening now across the country.
Sali, a member of the House Natural Resources Committee, served as the Republican debate “manager,” allocating speaking time to his colleagues as they debated a bill to dedicate funding for wildfire suppression.
Rep. Bill Sali (R-Idaho) comments
The Federal Land Assistance, Management and Enhancement Act, which is aimed at dedicating funds for suppressing large wildfires, passed on a voice vote. The Forest Service used to provide a source of revenue by managing federal lands and selling the harvested timber. Today, in most areas, active harvesting and forest management is non-existent resulting in less money while there are growing fuel loads on federally managed lands.
Meanwhile, Sali’s bill speeds up projects to reduce hazardous fuels and reduce risks from wildfire, insect damage and disease. The bill would allow a shortened environmental review process as allowed under the National Environmental Policy Act, and would keep in place the environmental safeguards stipulated in the Healthy Forests Restoration Act.
20,000 residents of Idaho’s 1st Congressional District can expect a call Tuesday evening to join a phone-in town hall meeting on gas prices with U.S. Rep. Bill Sali.
The meeting’s scheduled start depends on the Congressional voting schedule, and residents will be able ask questions.
Joining Sali will be Douglas MacIntyre from the Department of Energy, and Fred Lawrence from the Independent Petroleum Association of America.
