Washington DC Congressman Randy Neugebauer (R-TX) released a statement today in response to President Obamas proposal to impose a new tax on the nations largest financial firms:
The American taxpayers deserve to get their money back in full. However in these uncertain economic times I am deeply concerned about a proposed bank tax that would directly reduce the flow of credit needed by small businesses and families who rely on credit to finance their day-to-day operations and household budgets.
This tax would discourage lending and stifle the already sluggish economic recovery. Although I advocated the recouping of TARP funds and curbing excessive risk this is neither the time nor the way to go about it.
If the Obama Administration truly wanted to decrease losses to the taxpayers they should have ended TARP on December 31 as my colleagues and I requested not given GMAC billions more in recent weeks.
I am willing to work alongside the Obama Administration on a solution to recoup TARP losses for the American taxpayers in a way that will not impact lending and further drain the economy of capital needed by small businesses and entrepreneurs to stay in business and create jobs."
Washington DC Congressman Randy Neugebauer (R-TX) released a statement today in response to President Obamas proposal to impose a new tax on the nations largest financial firms:
The American taxpayers deserve to get their money back in full. However in these uncertain economic times I am deeply concerned about a proposed bank tax that would directly reduce the flow of credit needed by small businesses and families who rely on credit to finance their day-to-day operations and household budgets.
This tax would discourage lending and stifle the already sluggish economic recovery. Although I advocated the recouping of TARP funds and curbing excessive risk this is neither the time nor the way to go about it.
If the Obama Administration truly wanted to decrease losses to the taxpayers they should have ended TARP on December 31 as my colleagues and I requested not given GMAC billions more in recent weeks.
I am willing to work alongside the Obama Administration on a solution to recoup TARP losses for the American taxpayers in a way that will not impact lending and further drain the economy of capital needed by small businesses and entrepreneurs to stay in business and create jobs."
