U.S. Rep. Steve Pearce doesn’t support the version of the economic bailout bill the House is scheduled to vote on later today.
The Senate has already approved the reworked version of the measure the House rejected on Monday. Pearce voted against the previous version of the bill, and said in a news release sent late Thursday that he doesn’t see anything in the new version to change his vote.
Pearce said there are some provisions in the new bill that are “praiseworthy,” but “the majority are unrelated to the financial crisis and add billions in wasteful pork projects and payoffs to special interests.”
“Even though I understand influential groups have urged support for the bill, the American people have this one exactly right. Constituents calling my office have overwhelmingly opposed the bill,” Pearce said. “Unless I can find a reason that is not currently included in the present version of the bill, I will vote to protect average Americans by opposing this outrageous big-government intrusion into the market system.”
Congressional leaders are struggling to change the votes of at least 12 members of the House who voted against the bailout on Monday. While several have announced that they will change their votes, whether there are enough votes to pass the bill today isn’t clear.
The other New Mexico House member who voted against the bailout on Monday, Rep. Tom Udall, remains undecided on how he’ll vote today. Rep. Heather Wilson, who voted for Monday’s bill, has also not announced how she’ll vote today.
Pearce said his opposition to the bill “does not mean doing nothing is a solution.”
“The House should pass a clean bill. We need to head back to the drawing board and craft legislation that does right by the American people,” Pearce said. “A solution has to happen, but it must be the right solution — an appropriate response that keeps the middleclass taxpayer from paying for the mistakes of the rich.
Pearce said those who “have brought us to this position through their own greed should not escape accountability.”
“There are several market-based alternatives we should consider that will get our economy back on track without threatening the economic stability of future generations,” he said.
Pearce’s news release included little information on what he views as a viable alternative, but he provided a few additional details to The Associated Press.
Denish urges support for bill
Meanwhile, Lt. Gov. Diane Denish put out her own news release on Thursday calling on members of the state’s congressional delegation to support the bill. She also phoned the members to ask them to vote for it, saying she visited eight
“Families rely on lenders to make car loans, pay tuition, fund home mortgages and just make ends meet,” Denish said. “It is unfortunate that New Mexicans find themselves forced into bearing the burden of this difficult situation. While some provisions of the bill are hard for me and others to accept, I believe now is the time for the House to work together across party lines to address the immediate crisis and then work to make sure this never happens again.”