Rep. DeFazio Blasts 1,600-page CROmnibus for Its Giveaways to Wall Street and Wealthy Campaign Donors

Washington, DC–(ENEWSPF)–December 12, 2014.   On Thursday, December 11, Rep. Peter DeFazio (OR-04) released the following statement after voting no on H.R. 83, the Consolidated and Further Continuing Appropriations Act, 2015, legislation to fund the government through the end of fiscal year 2015.

“Only six years after reckless Wall Street gambling nearly brought the U.S. economy to its knees, some of my colleagues in Congress just voted to give Wall Street an early Christmas present. By repealing a key provision of Dodd-Frank as part of the so-called CROmnibus, this Republican-led House will open the door to Wall Street gambling with taxpayers covering the losses, the very same behavior by Wall Street that tanked our economy in 2008. This Congress demonstrated that it is working for the richest and most powerful citizens, and has no interest in protecting regular people from the reckless ways of Wall Street. This is an insult and an injustice to the millions of Americans who were hammered by the financial collapse. Another provision in the bill increasing campaign contribution limits enables the Wall Street robber barons to buy even greater access, further underscoring the misplaced priorities of this Congress.

“As if favors for the rich and powerful weren’t enough, this bill actually punishes low-income Americans by slashing the Pell grants that make a college education and a shot at the middle class possible. The bill also underfunds critical transportation investments, which we should be using to spur economic development and put hundreds of thousands of Americans back to work.

“I am also extremely disappointed that an extension of vital Secure Rural Schools payments was not included in this package. This is devastating for Oregon’s timber-dependent counties on the brink of financial disaster. SRS is a critical lifeline that has kept sheriff’s deputies on patrol and dangerous criminals in jail. Extending SRS must be a top priority when Congress reconvenes in January, and I will work with the delegation to ensure SRS is extended so our counties remain solvent.” 

Source: defaxio.house.gov