[Congressional Record Volume 155, Number 190 (Tuesday, December 15, 2009)]
[Extensions of Remarks]
[Page E3005]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


   SUPPORT FOR THE ``LET WALL STREET PAY FOR THE RESTORATION OF MAIN 
        STREET ACT'' INTRODUCED BY REPRESENTATIVE PETER DeFAZIO

                                 ______
                                 

                          HON. MAZIE K. HIRONO

                               of hawaii

                    in the house of representatives

                       Tuesday, December 15, 2009

  Ms. HIRONO. Madam Speaker, years of deregulation and exorbitant risk-
taking in the financial markets contributed to the financial turmoil 
we're in today. Last week, the House passed a bill that would bring 
common sense reforms on Wall Street so that taxpayers would never again 
be on the hook for bailing out firms and banks for their risky, 
irresponsible behavior.
  Congress must now pass legislation that puts people back to work. 
Through TARP, the federal government loaned billions of taxpayer 
dollars to Wall Street. It's time for Wall Street to help create jobs 
on Main Street.
  This can happen in two ways: by using some of the available TARP 
funds and by imposing a modest Wall Street transaction tax on certain 
securities trades. This latter proposal could raise up to $150 billion 
a year, part of which could go toward infrastructure investment and 
partly to debt reduction.
  I ask my colleagues to support these proposals so that we can curb 
speculation and create jobs that will put Americans back to work again.

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