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03 October 2008

David Scott Switches Vote; Supports Bailout Bill

13th district Congressman David Scott (D - Georgia) voted against the Emergency Economic Stabilization Act of 2008 when it first came to the House floor on Monday.

Today, in the second vote on the bill, David Scott switched his vote to support the legislation. After the vote, Congressman Scott released the following statement:

"Two things changed this week to help me decide to vote for the final version of this economic assistance bill," stated Congressman Scott. "First, I was able to work with House leadership to strengthen language providing assistance to homeowners. The language of the bill now forces the Secretary of the Treasury to take a more aggressive strategy to restructure troubled mortgages and prevent further foreclosures."

"Secondly, small businesses in Atlanta started running out of short term loan options," Congressman Scott said. "They said they would have to start cutting payroll to make ends meet. I believe that in order to help keep employees on the job we could not wait around for a perfect bill. If I thought this was just a bailout for Wall Street, I would continue to oppose it."