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Bachus: Democrats' Proposal Will Continue Bailouts, Kill Jobs


WASHINGTON, Apr 15 -

-Financial Services Committee Ranking Member Spencer Bachus today joined House Republican Leadership for a Tax Day press conference and issued the following statement on the Democrats job-killing agenda.

"Republicans are offering real reform and opposing the bad bills that kill jobs and make our economic situation even worse.

"Business owners are reluctant to spend, invest, and hire new workers because of uncertainty over new taxes, higher interest rates and the ever-expanding role of government in the economy.

"The Democrat proposal gives regulators the power not only to oversee financial institutions, but to manage their day to day activities.  We all know the government can't manage anything efficiently and this will result in more lost jobs.

"The American people are sick and tired of bailouts.  Again refusing to listen to the taxpayers, Democrats propose a permanent bailout regime and a $150 billion job-killing tax to be used just as the public's money was wasted in the AIG fiasco.

"Incredibly, the Democrats' legislation does nothing to reform Fannie Mae and Freddie Mac, the recipients of the mother of all bail-outs -- $127 billion and counting.

"Republicans are determined to protect taxpayers, end the bailouts and get the government out of the business of picking winners and losers."

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