Emergency Economic Stabilization Act of 2008

October 3, 2008 - 1:42pm

MD delegation 7-1 on revised bailout legislation

The Maryland Congressional delegation voted 7 to 1 on Friday in favor of a revised economic recovery bill.

The U.S. Senate added provisions and voted on an updated rescue bill Wednesday, after the U.S. House failed to pass a $700 billion bailout package for the financial sector on Monday.

Congress passed the revised bill on Friday 263 to 171.

Continue reading to see how each member of the Maryland delegation voted on the revised version of the Emergency Economic Stabilization Act of 2008.

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October 1, 2008 - 8:31pm

Cardin, Mikulski vote yes on recovery plan

U.S. Senators Barbara Mikulski (D-Baltimore) and Ben Cardin (D-Baltimore) both voted yes on the Emergency Economic Stabilization Act of 2008 on Wednesday.

The U.S. Senate voted on an updated rescue bill, after the U.S. House failed to pass a $700 billion bailout package for the financial sector on Monday.

The bill easily passed the U.S. Senate 74 to 25.

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October 1, 2008 - 5:50pm

Mikulski: ‘I will vote for this bill'

U.S. Sen. Barbara Mikulski (D-Baltimore) says she'll vote for the Emergency Economic Stabilization Act of 2008.

The U.S. Senate is set to vote Wednesday evening on an updated rescue bill, after the U.S. House failed to pass a $700 billion bailout package for the financial sector on Monday.

"I'm afraid that if we do not act today and if we do not act with resolve then our economy could come to a crashing halt," said Mikulski on the Senate floor Wednesday. "Therefore, I will vote for this bill."

Mikulski said lax regulation and "wimpy enforcement" were to blame for the country's fiscal woes.

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October 1, 2008 - 10:32am

Cardin yet to announce position on financial bailout

U.S. Sen. Ben Cardin (D-Baltimore) has yet to announce his position on the Emergency Economic Stabilization Act of 2008, according to Sue Walitsky, Cardin's communications director.

The U.S. Senate is set to vote Wednesday evening on an updated rescue bill, after the U.S. House failed to pass a $700 billion bailout package for the financial sector on Monday.

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September 30, 2008 - 5:15pm

Green Party opponent hits Van Hollen on bailout

U.S. Rep. Chris Van Hollen's Green Party opponent went on the attack on Tuesday, going after the Kensington Democrat's vote in favor of the controversial Emergency Economic Stabilization Act of 2008. On Monday, the U.S. House failed to pass the $700 billion bailout package for the nation's unstable financial sector, prompting markets to post record losses.

Gordon Clark claimed Van Hollen, who is chairman of the House Democrats' campaign committee, voted for the measure because he had his hands in the pockets of special interests.

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September 30, 2008 - 4:22pm
PRESS RELEASE

Gordon Clark: Van Hollen Ignores Constituents, Votes for Failed Wall Street Bailout

In spite of overwhelming public opposition to the proposed $700 billion Wall Street bailout, Chris Van Hollen voted yesterday in favor of the bill that was ultimately rejected by the House of Representatives.

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September 30, 2008 - 12:34pm

Sarbanes: We need to move quickly

U.S. Rep. John Sarbanes (D-Baltimore) says he would like to move quickly to make the necessary adjustments to the Emergency Economic Stabilization Act of 2008. The U.S. House failed to pass the $700 billion bailout package for the financial sector on Monday, prompting markets to post record losses.

Sarbanes, who voted for the original bill, pointed to the markets "volatility" as a key reason the legislation should be promptly adjusted and passed.

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September 30, 2008 - 9:43am

Edwards receives praise from opponent

U.S. Rep. Donna Edwards received a thumbs up from her Republican opponent, Peter James, for her vote against the Emergency Economic Stabilization Act of 2008. The U.S. House failed on Monday to pass the $700 billion bailout package for the financial sector, prompting markets to post record losses.

Edwards (D-Fort Washington) voted against the bill yesterday, splitting with the majority of Democrats in Maryland's Congressional delegation. Congressman Elijah Cummings (D-Baltimore) also voted against the measure.

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September 29, 2008 - 4:14pm

Cardin says inaction not option, Mikulski angry along with taxpayers

U.S. Sen. Ben Cardin (D-Baltimore) says "inaction is not an option" on a passing a rescue package for the ailing U.S. economy.

The U.S. House failed to pass a $700 billion bailout package for the financial sector on Monday, prompting markets to hit record losses.

"I am angry that we have been faced with this economic crisis, but now is not the time to lay blame," said Cardin in a statement. "We need to work together in a bipartisan way to find the balance the American public is calling for."

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September 29, 2008 - 3:04pm

MD delegation splits on $700B econ package

The Maryland Congressional delegation split on Monday's proposed $700 billion economic package. The final vote was 228 against and 205 in favor of HR 3997, according to the clerk of the U.S. House.

Continue reading to find out how each member of the Maryland delegation voted.

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