Oregon Public Broadcasting

Northwest lawmakers were split Monday in the vote on the $700 billion economic bailout package.  Eight of the region’s Congress members voted for it; eight voted against it.  

One of those is Portland Democratic Congressman Earl Blumenauer. He told his House colleagues the proposal wouldn’t go far enough.

Earl Blumenauer:  “Any real rescue must include bankruptcy equity for homeowners. This is not just a moral issue.  It’s the key to stabilizing home values currently in free-fall.”

But some Democrats like Oregon’s Darlene Hooley said failing to act is not an option.  She was one of six Northwest Democrats to vote in favor of the bailout.

Darlene Hooley:  “I think what people have to understand, if we don’t do this, the consequences are really severe for everybody. I mean there is not enough money in the market right now.  You can’t borrow money to buy a car, you can’t borrow money to buy a house.”

Northwest Republicans were also split.  Oregon’s Greg Walden and Idaho’s Mike Simpson voted for the plan.  But several Republicans voted against it.  That includes Washington’s Dave Reichart and Idaho’s Bill Sali, both of whom are facing tough re-election challengers.

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