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BY AMY DOMINELLO
Media General News Service
WASHINGTON – All but one of Alabama’s seven House members voted Monday for the economic bailout package.
Rep. Robert Aderholt, a Republican from Haleyville, was the sole congressman from Alabama to vote against the $700 billion emergency rescue package for the nation's financial system.
“There are no easy answers to the current disarray in our economy but there are alternatives to massive government spending that we should explore,” Aderholt said.
The House voted 228 to 205 to defeat the package, ignoring warnings from President Bush and congressional leaders that the economy could nosedive without it.
Other House members from Alabama said they reluctantly supported the bailout because they feared a deepening financial crisis if Congress did not act.
“I believed it was the right thing to do despite my serious reservations about it,” said Rep. Mike Rogers, a Republican from Anniston. “I can only hope my concerns about serious economic peril will be proven wrong.”
Rep. Terry Everett, a Republican from Enterprise, said he hates the fact that the country is in this situation, “but, we are a nation of credit and that credit will collapse if nothing is done.”
“… This federal intervention into our free enterprise system runs against every conservative grain in my body, but I will reluctantly support this compromise measure,” he said.
Several congressmen said Monday’s vote was one of the most difficult, and possibly most important, of their careers.
“I have decided that the cost of not acting outweighs the cost of acting,” said Rep. Spencer Bachus, a Republican from Birmingham, on the House floor. Bachus holds a top spot on the House Financial Services Committee.
Rep. Jo Bonner, a Republican from Mobile, said he heard from more than 300 constituents who opposed the bailout. But he felt supporting it was the right thing to do.
“I firmly believe that inaction could lead to a significant and likely disastrous economic downturn,” Bonner said.
Rep. Bud Cramer, a Democrat from Huntsville, said his decision was driven not just by what will happen on Wall Street but to people in Alabama.
“I understand the opposition to this plan, but the seriousness of this time in our nation’s history requires action to keep our economy solvent,” Cramer said.
Democratic and Republican leaders pledged late Monday to take up the bailout again, and the House was to reconvene on Thursday instead of adjourning for the year as planned. The Senate had been scheduled to take it up mid-week.
Aderholt said Congress must return to address the economic crisis.
“We can’t proceed with the same bill,” he said.
Contact Amy Dominello at 202-662-7671 or adominello@mediageneral.com
How they voted
No
- Rep. Robert Aderholt. Republican from Haleyville.
Yes
- Rep. Spencer Bachus. Republican from Birmingham.
- Rep. Jo Bonner. Republican from Mobile.
- Rep. Bud Cramer. Democrat from Huntsville.
- Rep. Artur Davis. Democrat from Birmingham.
- Rep. Terry Everett. Republican from Enterprise.
- Rep. Mike Rogers. Republican from Anniston.
Media General News Service
WASHINGTON – All but one of Alabama’s seven House members voted Monday for the economic bailout package.
Rep. Robert Aderholt, a Republican from Haleyville, was the sole congressman from Alabama to vote against the $700 billion emergency rescue package for the nation's financial system.
“There are no easy answers to the current disarray in our economy but there are alternatives to massive government spending that we should explore,” Aderholt said.
The House voted 228 to 205 to defeat the package, ignoring warnings from President Bush and congressional leaders that the economy could nosedive without it.
Other House members from Alabama said they reluctantly supported the bailout because they feared a deepening financial crisis if Congress did not act.
“I believed it was the right thing to do despite my serious reservations about it,” said Rep. Mike Rogers, a Republican from Anniston. “I can only hope my concerns about serious economic peril will be proven wrong.”
Rep. Terry Everett, a Republican from Enterprise, said he hates the fact that the country is in this situation, “but, we are a nation of credit and that credit will collapse if nothing is done.”
“… This federal intervention into our free enterprise system runs against every conservative grain in my body, but I will reluctantly support this compromise measure,” he said.
Several congressmen said Monday’s vote was one of the most difficult, and possibly most important, of their careers.
“I have decided that the cost of not acting outweighs the cost of acting,” said Rep. Spencer Bachus, a Republican from Birmingham, on the House floor. Bachus holds a top spot on the House Financial Services Committee.
Rep. Jo Bonner, a Republican from Mobile, said he heard from more than 300 constituents who opposed the bailout. But he felt supporting it was the right thing to do.
“I firmly believe that inaction could lead to a significant and likely disastrous economic downturn,” Bonner said.
Rep. Bud Cramer, a Democrat from Huntsville, said his decision was driven not just by what will happen on Wall Street but to people in Alabama.
“I understand the opposition to this plan, but the seriousness of this time in our nation’s history requires action to keep our economy solvent,” Cramer said.
Democratic and Republican leaders pledged late Monday to take up the bailout again, and the House was to reconvene on Thursday instead of adjourning for the year as planned. The Senate had been scheduled to take it up mid-week.
Aderholt said Congress must return to address the economic crisis.
“We can’t proceed with the same bill,” he said.
Contact Amy Dominello at 202-662-7671 or adominello@mediageneral.com
How they voted
No
- Rep. Robert Aderholt. Republican from Haleyville.
Yes
- Rep. Spencer Bachus. Republican from Birmingham.
- Rep. Jo Bonner. Republican from Mobile.
- Rep. Bud Cramer. Democrat from Huntsville.
- Rep. Artur Davis. Democrat from Birmingham.
- Rep. Terry Everett. Republican from Enterprise.
- Rep. Mike Rogers. Republican from Anniston.