[Congressional Record (Bound Edition), Volume 155 (2009), Part 12]
[HOU]
[Page 16292]
[From the U.S. Government Publishing Office, www.gpo.gov]




               PRESERVING CAPITALISM IN AMERICA AMENDMENT

  (Mr. TURNER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. TURNER. Mr. Speaker, a growing number of Americans are concerned 
about the future of capitalism in this country. The current economic 
recession has opened the door to government intervention in private 
enterprise on a scale many have never seen. A majority of Americans 
oppose the government takeover of the auto manufacturers and want the 
government out as soon as possible.
  Just as troubling as the government's rapid control over private 
industry is the failure to present an exit strategy. With no apparent 
limit on the government's ability to expand its ownership of business, 
the only solution is a constitutional amendment.
  Yesterday I introduced H.J. Res. 57, the Preserving Capitalism in 
America Amendment. The constitutional amendment would prohibit the 
acquisition of any stock or equity interest in private corporations by 
the Federal Government. This amendment was introduced with 102 
cosponsors, nearly a quarter of the membership of the House. Eight 
States currently have constitutional prohibitions against government 
investment in private corporations, and I believe similar action is 
necessary on the Federal level to limit government intrusion.
  I urge my colleagues to join me in supporting H.J. Res. 57, the 
Preserving Capitalism in America amendment.

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