Kaptur, Latta say no to bailout bill

WASHINGTON North-central Ohio's two House members, U.S. Rep. Marcy Kaptur, D-Toledo, and U.S. Rep. B
Sandusky Register Staff
May 24, 2010

WASHINGTON

North-central Ohio's two House members, U.S. Rep. Marcy Kaptur, D-Toledo, and U.S. Rep. Bob Latta, voted against the latest version of the bailout bill, resisting pressure from the media and party leaders to change their votes.

Both lawmakers voted Monday against an earlier version of the bailout bill.

Latta released a statement explaining his vote.

"Unfortunately, the core language of this bill did not change from the bill that we voted on earlier this week," he wrote. "This is still a $700 billion package with few details on how taxpayer money will be spent and how the Treasury Department arrived at the $700 billion figure. In addition to the price tag of this legislation, there is still questionable language within the bill that fails to define financial instruments. Without a clear definition, the Treasury Secretary has the authority to purchase almost any debt that he determines the purchase of which is necessary to promote stability. Because these issues were not resolved during the latest negotiations, I could not support this legislation. It is my firm belief that Congress must do all it can to protect the taxpayers' money and the bill fails to do so."

Kaptur did not immediately issue a statement after her no vote.