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Yesterday, I introduced H.R. 433, the Natomas Flood Protection Improvements Act, in the House of Representatives.
This week, the House of Representatives will vote on H.R. 2, a measure to repeal the historic health care law passed by Congress last spring. The measure would repeal patients' rights and put insurance companies back in charge.
The repeal legislation will likely not be passed by the Senate, or signed by President Obama. However, I did want to underscore some of the reasons that repealing this law would be detrimental to our country's citizens.
10 Reasons Repealing the Health Care Law Will Hurt Americans
Repealing the health care law will:
I am honored to continue serving as your Representative in Congress, and will be advocating for Sacramento's priorities every day and working to ensure that our local concerns are addressed. That includes strengthening and diversifying our regional economy, creating jobs, working to secure funding for our flood protection projects, and promoting Sacramento as the clean energy capital. It also includes ensuring that the consumer protections put in place by the 111th Congress in the new health care and Wall Street reform laws remain in place.
Mr. CAMPBELL. I thank the gentlelady for yielding.
I have heard a long parade of Members come up here and talk about how somehow the fact that the financial markets did not collapse in October is somehow prima facie evidence that the rescue program was not needed. In fact, precisely the opposite is true. These financial markets would have collapsed in October or November were it not for the rescue program, or the TARP program as we know it today, in conjunction with very aggressive action by the Federal Reserve.
Mr. CAMPBELL. Madam Speaker, there is a lot of talk these days about rescue plans and bailouts and TARP and stimulus packages. Letand#39;s take a minute to reflect on what has happened. Back in October we passed, and the President signed, a rescue plan which created the Troubled Asset Recovery Plan, so-called TARP.
Mr. CAMPBELL. Mr. Chairman, I would like to have a colloquy with the chairman of the committee.
Mr. Chairman, the Emergency Economic Stabilization Act was intended to apply to financial institutions, I believe, without regard to their form of ownership: public, private, mutual associations. Is that your understanding? Is that correct?
Mr. FRANK of Massachusetts. If the gentleman will yield, Mr. Chairman, heand#39;s absolutely correct. The form of ownership should have no relevance to the decision here.
Mr. CAMPBELL of California. Mr. Speaker, shh, thereand#39;s a secret. I have a secret. Itand#39;s a secret that the leadership in this House doesnand#39;t want the people to know; but Iand#39;m going to tell you anyway.
Mr. CAMPBELL of California. I thank my friend, Mr. Westmoreland from Georgia, and you are equally a friend of the taxpayer and a Georgia bulldog in terms of fighting for taxpayers and consumers and for Americans to be more free rather than less free in the future. Thank you for yielding. I stand h...
Mr. CAMPBELL of California. Thank you for that kind introduction, my colleague from California (Mr. Dreier).
