Mr. Speaker, I rise today to speak in favor of today's YouCut proposal to fulfill a promise made to the American people. TARP must end. Since January 2009, many of us in this body have voted to end TARP and the continued abuse of taxpayer dollars. Congress created the emergency Troubled Asset Relief Program, or TARP, as a temporary stopgap against an imminent financial collapse. Ronald Reagan once said that ``no government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this Earth.'' The emergency has ended. It is time to terminate TARP and return the money to taxpayers, as promised. Instead, the administration has continued to hand out billions of dollars to irresponsible actors on Wall Street. It has used the money as a slush fund, created new Federal programs, and paid for $19 million in new spending in the Dodd-Frank bill. Our country can't afford this kind of excessive spending and permanent government intrusion into the private marketplace.
Editor's note · Context
Biggert addresses the need to end the Troubled Asset Relief Program (TARP) and return funds to taxpayers.
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