Tester says NO to more bailout money

Senator calls for ‘more jobs, not more bailouts’

(WASHINGTON, D.C.) – Senator Jon Tester today released the following statement after voting against releasing the second half of the $700 billion bailout for Wall Street.

“Montana and America need more jobs, not more bailouts.  I voted against the Wall Street bailout because I had major concerns about the unprecedented cost to taxpayers and the lack of accountability.  I’m still concerned.

“It’s time to rebuild our economy from the ground up by investing in jobs and long-term infrastructure that will repay us for generations to come. I look forward to working with the new President and the new Congress to get the job done.”

BACKGROUND:

• Tester was one of 24 U.S. Senators who voted against the $700 billion Wall Street bailout on October 1, 2008.  The measure gave the U.S. Treasury Department $350 billion “up front” to unfreeze the U.S. credit market and to help the struggling financial industry.  The second $350 billion will be given to the President unless Congress votes to deny the request.  Tester today voted for a measure that would have blocked that additional $350 billion.
• Tester is the only Senate Democrat who voted against both the $700 billion Wall Street bailout and the recent bailout of the U.S. auto industry.