10.02.08

Burr Statement on Senate Vote on Emergency Economic Stabilization Act

U.S. Senator Richard Burr (R-North Carolina) tonight issued the following statement on the Senate vote on the Emergency Economic Stabilization Act (Dodd Amendment to H.R. 1424):

"Like many North Carolinians, I am very concerned and angry about the circumstances that have brought our country's economy to the brink and that now necessitate the Congress to act. We are facing one of the most significant economic challenges we have ever confronted, one that threatens the financial security of each and every one of us, whether you have a retirement savings account or a pension, own a home, want to buy a home or a car, or are trying to save or borrow for college. While many believe that this action is a bailout of Wall Street, the fundamental reason the Senate is compelled to act today is to stop an economic collapse of Main Street."

"As a fiscal conservative, I consider this vote a sad day in our nation's history. But as a public servant, and as an elected representative of North Carolina, I do not believe I can sit by and let this country fall into the worst economic state that it has ever faced. While the need for this legislation is regrettable, I am heartened that the plan before the Senate includes very important protections for taxpayers, limits on executive compensation for Wall Street, and strong measures to ensure proper oversight and accountability."

To read Senator Burr's statement submitted to the Congressional Record, please click here.