(Washington, DC) – Today U.S. Congressman Dean Heller made the following statement on the Emergency Economic Stabilization Act (H.R. 1424).

“While this legislation has improved and has many important tax provisions for Nevada that I have supported in the past, I could not support this legislation.  The core of this legislation is still flawed and puts Nevada’s taxpayer on the hook to pay for a massive bailout of Wall Street. 

Our country is facing a dire economic crisis.  However, I am disappointed that alternatives other than spending $700 billion to resolve our economic problems were not considered or debated.  There are solutions to this problem that do not place current taxpayers and future generations at risk or push our country further in debt.  At a minimum, there should be greater oversight and accountability of the distribution of these funds,” said Heller. 

“Now that this legislation has passed, I am hopeful Congress can work together to bolster our economy and create greater accountability in our financial institutions.  As a member of the Financial Services Committee, I will be fully engaged and play an active role in the debate over future regulation and oversight of Wall Street institutions,” Heller added.

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