Cuellar Reports

Associations Praise Congressman Cuellar's 'Yes' Vote for Broad-based Economic Recovery Legislation

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Washington, October 14, 2008 | Annie Boehnke ((202) 225 - 1640 ) | comments
U.S. Representative Henry Cuellar received numerous letters of support and gratitude for his vote last week in favor of broad-based economic recovery:

Texas Farm Bureau

Farm Bureau praises financial relief bill
Friday, October 03, 2008 -

WACO – As the U.S. House of Representatives, on the second try, passed a bill designed to rescue the nation’s troubled financial system, Texas’ largest farm organization praised members of the Texas Congressional delegation that voted yes on the plan.

“This was a tough vote,” said Steve Pringle, Legislative director of the Texas Farm Bureau.  “No one feels really good about this situation, but this vote and this rescue plan was necessary.”

In a statement earlier this week, the American Farm Bureau Federation said, “There are many hard-working farm families in this nation who have been financially conservative. They have paid their bills every month. Rural residents, among others, have sacrificed to keep their mortgages current. All of these families will be severely hurt through no fault of their own if action is not taken soon to bring stability to the financial markets.”

Pringle said there are other components of the bill that will help Texas farmers and ranchers.

“Extension of the Alternative Minimum Tax, deduction of state sales taxes and the Renewable Energy Tax Credit are all important to Texas agriculture and are included in the package,” Pringle said.

He noted that major banks have failed weekly and other banks have had to infuse $60 million into Farmer Mac to keep it solvent.

“All of that could negatively impact farm credit, which would be a disaster for farmers and ranchers who are approaching another crop year, when operating loans will be needed,” Pringle said.

National Federation of Independent Business

 "NFIB appreciates Rep. Henry Cuellar’s support for the Emergency Economic Stabilization Act, bipartisan legislation that will restore stability and confidence in our financial system," said Dan Danner, executive vice president of NFIB.

"It’s very difficult for most small business men and women to fathom how we got to where we are today," said Danner." "When a small business makes bad decisions, they risk going out of business.  We have little sympathy for those that got us in this economic mess, and believe that they should be held accountable. However, small business owners recognize that their ability to grow their business depends upon stability and liquidity in the financial markets. They know that credit and functioning financial markets are important to them and to their customers, suppliers and vendors.

"NFIB commends Rep. Cuellar for his vote on the Emergency Economic Stabilization Act," said Danner. "His support for the Economic Stabilization Act shows his clear support for small business in Texas’ 28th Congressional District."


U.S. Chamber of Commerce

Joint Letter from Business Associations

Laredo Chamber of Commerce

Texas Business Association

Security Industry & Financial Markets Association

National Association of Manufacturers

Mortgage Bankers Association

Associated Builders & Contractors

American Road & Transportation Builders Association

National Automobile Dealers Association

Credit Union National Association

National Association of Realtors

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