Bailout Bill Not Dead Yet - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Bailout Bill Not Dead Yet

The national bailout is not dead yet, and congress will take a second shot at it as soon as Thursday.

All three area legislators say they have different ideas in order to take the bailout package forward.

But all of them say less taxpayer money will help.

While the national crisis is hitting wall street hard, Congressmen Tom Udall of New Mexico, Mac Thornberry of Texas, and Frank Lucas of Oklahoma all say they are interested in protecting main street.

And in order for a second version of the bailout to pass, changes are necessary.

All three congressman have consulted economic experts and want to lower the cost of the bill.

"Some people think changing the accounting rules would mean difference of 500 billion dollars in capital. And that's most of this bill," said Thornberry.

Congressman Udall agrees that the bill needs to be re written.

In a statement he said: "Families who had nothing to do with failed mortgages could lose billions in assets as foreclosures continue to drive down property values."

"Look at what's good for the whole economy and have some of these other ideas on the table. If we can do that I think we can end up with a better bill," said Congressman Thornberry.

Congressman lucas says he's waiting to see what changes are made before he re-addresses the economy issue.

 

If you would like to contact your local representative at his regional office:

Congressman Mac Thornberry 

905 South Fillmore Street, Suite 520

Amarillo, Texas 79101

Phone:  (806) 371-8844

 

Congressman Tom Udall

Clovis Office Clovis-Carver Public Library 701 N. Main St.

Clovis, NM 88101

(505) 763-7616

 

And Congressman Frank Lucas

Woodward Office

2728 Williams Avenue Suite F

Woodward, OK 73801

(580) 256-5752

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