Most Active Stories
- [Slideshow: Afternoon Photos Added] Early Morning Fire on Murray Court Square
- Murray Downtown Fire: Gutted Buildings Likely to be Razed
- Sixth-Grader's Science Project Catches Ecologists' Attention
- Hemp Oil Not a Source of CBD Which Could Be Used in Epilepsy Treatments
- DOE Awards Fluor $420M Contract for Paducah Gaseous Diffusion Plant Decommission and Decontamination
Thu January 22, 2009
Whitfield, House Vote "Nay" on TARP
By Carrie Pond
Washington, D.C – The U-S House of Representatives voted 270 to 155 yesterday against spending the final $350 billon allocated through the Troubled Assets Relief Program, or TARP. TARP was introduced by the Bush administration and approved by Congress in October amid instability in the credit market. Kentucky's 1st district representative Ed Whitfield is one of the 270 who disapproves of TARP's handling.
"The careless manner in which the first half of these TARP funds was spent demonstrates that we simply cannot hand the Treasury Department a blank check at taxpayers' expense."
Whitfield says Congress instead should provide tax incentives to encourage investment in the American economy. Despite the House's vote, the funds will still be released because of last week's Senate vote that opted against blocking the funds.