I received this email from him today. The Senate voted before the House, and I have little faith that the House will do anything about it, but I had to do a cup check here.

Dear John:

Thank you for contacting me about the Treasury Department’s efforts to stabilize the financial markets. It is good to hear from you.

Treasury officials failed to implement a workable program that holds financial institutions accountable and protects U.S. taxpayers. By unilaterally choosing to infuse federal monies directly into financial institutions, Treasury Secretary Paulson side-stepped many of the taxpayer safeguards Congress established in the Troubled Assets Relief Program (TARP).

It’s unacceptable that most financial institutions receiving aid refuse to disclose how those monies are spent. The TARP program was intended to restore liquidity to the markets so that Americans could continue to access credit for important purchases like homes, cars, or an education. But many institutions failed to increase consumer lending. Others are using tax dollars for things Congress never intended. In some cases, the Treasury Department gave money to banks that weren’t even facing a financial crisis. And worst of all, many companies continued to dole out extravagant year-end bonuses to top executives while hardworking taxpayers struggle to make ends meet. Enough is enough.

President Bush formally requested access to the remaining $350 billion in TARP funds on January 12th. Under the law, Congress has 15 days to act to deny the funds. Despite promises from President-elect Obama’s incoming economic team to implement changes in the TARP program, I do not support releasing the money and will work with my colleagues to deny the administration’s request. While this is an unsettling economic time, many indicators suggest our economy is stabilizing. I believe it’s time to let the markets work and closely monitor the taxpayer dollars already committed.

We can’t borrow and spend our way back to a strong economy. It’s time to give American taxpayers - not Wall Street executives - a break. Congress must work together to create high-quality jobs and lower the tax burden on working families to promote long-term growth. Your comments will be helpful to my deliberations as I continue to discuss this issue with my colleagues and as Congress debates legislation to strengthen our troubled economy. Again, thank you for contacting me.

Sincerely,
Charles W. Boustany, Jr., M.D.
Member of Congress

Dr. Boustany explains that, in his view, he hears what we’re saying, but seriously, now it is time to bail out Wall Street.

His words:

Thank you for contacting me regarding the nation’s financial crisis. I appreciate your input.

Earlier this week I voted against the plan to provide up to $700 billion in taxpayer dollars to shore up the nation’s ailing financial markets. The bill failed in the House of Representatives by a vote of 205 - 228. Congressional leaders made significant improvements to the Administration’s original proposal - including increased oversight, mechanisms to recoup tax dollars over time, and prohibitions against sweetheart deals for irresponsible CEO’s. At the end of the day, however, I remain concerned that we are not doing enough to protect Southwest Louisiana taxpayers - while at the same time bailing out Wall Street billionaires. The free market system is built on key principles of risk and reward. Congress should give great pause before nationalizing Wall Street’s bad debt on the backs of hard working Americans.

This financial situation is serious and has far reaching implications for the entire U.S. economy. Over the past month, I consulted with a wide array of financial experts - from across the country and Southwest Louisiana. The financial instruments at the root of the problem are complex. It will take months, if not years, to unravel the mess created by some unscrupulous financiers and implement responsible regulations to ensure this type of market meltdown is not repeated.

In the short term, however, we must restore investor confidence in the markets. Right now, credit is essentially freezing-up nationwide - which means Southwest Louisianians will find it increasingly harder to get a car loan, buy a new house, or finance their children’s education. Havoc in the markets also puts at risk U.S. pension plans and harms responsible investors. Congress must act quickly and responsibly to restore faith in the U.S. financial system and work to ensure Main Street - not Wall Street - is protected.

Congress will reconvene later this week to continue discussions on legislation to stabilize the economy. I continue to push for alternatives to protect American taxpayers - like increasing FDIC insurance limits. Congress should also look at reforming outdated accounting laws that artificially undervalue good market assets which has contributed to the financial crisis. Finally, we need to take a hard look at reforming the U.S. credit ratings system.

Again, I appreciate your input. While there is no easy fix to the current crisis, I can assure you that I will continue to fight to safeguard taxpayers’ funds and protect the savings and livelihoods of all Southwest Louisianians.

Sincerely,
Charles W. Boustany, Jr., M.D.
Member of Congress

Me: I’d really like to hear more about limiting the size and power of Fannie and Freddie before I’m ready to sign on, among other things. Deliberation seems wise at this point.

Democrats wish to raise them.

As families across Southwest Louisiana struggle to pay higher prices at the pump, rising mortgage rates and escalating healthcare costs, the House Democratic leadership approved the largest tax hike in American history. Their budget will raise taxes on families and individuals, old and young, rich and poor- all to pay for wasteful Washington spending. Taxpayers in Louisiana face average tax increases of $2,642, and small businesses face an additional $4,000 on average. It is simply irresponsible.

Each year, Congress debates a budget for the coming year. The budget should be an outline of priorities. Growing our economy, helping American entrepreneurs and allowing families to keep more of their money are what a responsible budget should accomplish. This Democratic budget is simply a wasteful tax hike on working families. We need a budget that will lead to American prosperity, not bigger government.

The Democratic budget proposal includes a massive $683 billion tax increase over five years in order to finance Washington spending according to the Congressional Budget Office. The Associated Press reported, “[b]oth houses of Congress endorsed the idea of tax increases for millions of Americans Thursday as Democrats pressed ahead with budget plans that would allow some or all of President Bush’s reductions to die after he leaves office.” While failing to address growing entitlement programs, House Democrats are proposing tens of billions more in new federal spending facilitated by the tax increase.

Extra money for tax hikes might be in the family budget for people in San Francisco, but families in Southwest Louisiana do not have extra room in their checkbooks. I am committed to responsible spending and low taxes to keep the economy growing. Americans should be allowed to keep more of their hard-earned money. You earned it.

 The bottom line is that the GOP has spent a lot of money domestically and abroad.  By being so reckless and irresponsible with the spending, particularly with the domestic pork, it opened the door for the democrats to raise taxes, creating a vicious cycle.

Dr. Boustany advocates labor relief for Louisana:

Local economies across the United States are facing an immediate labor crisis. Seasonal jobs that have been filled for years by temporary H-2B workers are vacant. Sugar cane is not being processed, rice crops can’t be sorted or bagged, and crawfish and crabs are being turned away by processors who simply don’t have the workers to clean and pick the fishermen’s catch.  

The H-2B visa program provides the small and seasonal businesses that drive many of our nation’s regional economies with legal, seasonal workers. The FY 2008 cap of 66,000 H-2B workers was met this year on January 2. In past years, Congress acted responsibly and allowed certain returning workers to be exempt from the H-2B cap in order to help meet the needs of the many seasonal businesses that rely on these workers. Unfortunately, Congress allowed the returning worker provision to expire last year, and thousands of small businesses nationwide face critical job shortages. 

The bipartisan returning worker provision is now being held as a political hostage. While American business owners suffer, legislation to fill this need sits idle. In response to the lack of action, I introduced H.Res.1025 to call up, for immediate consideration, Congressman Bart Stupak’s H.R.1843, the Save Our Small and Seasonal Businesses Act. This bipartisan measure reauthorizes the returning worker program, supplying small businesses with their essential workforce. It is my sincere hope that with my colleagues’ help we can find a quick resolution to the crisis occurring in local communities around our nation. 

If you have any questions, please visit my website or feel free to contact my Washington, D.C. office at (202) 225-2031. This is an important small business and economic issue, and I look forward to working towards a solution.

Me:  The 7th district is a small world, and I know some of the people he’s talking about.  I talked with my Uncle who is a big proponent of the George Bush/John McCain immigration policy.  Just get some foolproof ID cards for the H2B holders and the labor shortage is solved, right?  Sounds good but living in Houston opens your eyes to the reality of open borders and the often adverse consequences of such policy over the long run.  Flaunting of the law doesn’t stop with crossing the border.

I get emails from the congressman representing the 7th district of Louisiana, Charles Boustany, M.D. He doesn’t have his own blog so I’m posting his updates.

Two weeks have passed since our national security community lost the ability to track valuable intelligence without going through slow and burdensome bureaucratic hurdles. That’s more than two weeks of terrorist communications that cannot be recovered. Yet, the Democratic House leadership under Speaker Nancy Pelosi refuses to debate a bi-partisan Senate bill, which would give intelligence officials expanded authority to track terrorists outside of the United States. Since August, a temporary set of new laws authorized this program, but it expired on February 15, 2008.

Violent extremists operating around the world have one aim- kill Americans. I am committed to providing responsible and appropriate tools to our intelligence community to protect and defend Americans at home and abroad. It is no coincidence that the U.S. has been free from attack at home since September 11, 2001. American intelligence officers protected us, and Congress must provide the tools and techniques they need to meet the long-term challenges that remain. Those standing on the frontlines battling these terrorists must have the ability to quickly intercept foreign communications to stop terrorists.

The Democratic leadership in the House has said, “there is no urgency” on updating our nation’s intelligence laws. I vehemently disagree; allowing this law to expire is completely irresponsible. I will continue to stand up for our men and women who defend us against future terrorist attacks. If you have questions about this debate or any other issue before Congress, please visit my website to learn where I stand and to send me your thoughts.

Sincerely,

Charles W. Boustany, Jr. M.D.
Member of Congress