Sunday, July 27, 2008

Boozman's Roll Call Votes of Past Week

Another week on Capitol Hill, and another weak Congressman's votes for his patrons and against the people. Northwest Arkansas residents are facing two serious economic consequences of George Bush's misadministration of our nation -- a record number of home foreclosures and record prices for gasoline at the pump. Last week, John Boozman (R-Pinnacle Gated Community) voted against two key measures that could have given them some relief.

On Wednesday, the House passed the
Foreclosure Prevention Act of 2008, to slow the record surge in mortgage foreclosures, provide $3.9 billion for communities to buy and fix up abandoned properties, establish a permanent affordable-housing fund financed by Fannie Mae and Freddie Mac, provide tax credits for first-time buyers, and allow the Federal Housing Administration to back new loans so an estimated 400,000 homeowners, who cannot afford their current house payments, can avoid foreclosure by refinancing into more affordable mortgages. The bill, HR 3221, also requires regulatory approval over the fat pay packages of executives at the mortgage companies. It passed by 272-152, with the support of Arkansas Congressmen Snyder, Berry, and Ross. Our Congressman John Boozman voted NO

On Thursday, the House voted
268-157 to pass HR 6578, the Consumer Energy Supply Act, but it failed, needing a 2/3 majority under rules to assure quick passage and avoid a Republican filibuster. The bill was intended to help lower skyrocketing gasoline prices by requiring the Energy Department to release 70 million barrels of oil stored in the nation's 700 million barrel Strategic Petroleum Reserve and produce immediate relief at the pump, as happened with similar releases in 1991, 2000 and 2005. Arkansas Congressmen Snyder, Berry, and Ross voted for the bill. Our Congressman John Boozman voted NO

After the Consumer Energy Supply Act failed to pass,
oil prices immediately moved higher as light sweet crude for September delivery spiked $1.05 dollars to close at $125.49 a barrel, and oil speculators gains and company profits continued at record levels. The result of all the political maneuvering against the bill by Republicans is that Congress will adjourn for a five-week vacation without having passed any response to high gas prices.

Thanks, John. We hope you enjoy your vacation.

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