skip to main contentskip to popular page linksskip to main navigation links
Office Hours Program Social Security Calculator Translate this page into another language
photo of Mike Capuano Michael E. Capuano representing the 7th district of Massachusetts in the U.S. House of Representatives Go to the House of Representatives homepage
Visit Mike's video channel on YouTube Like Mike on Facebook

 

 Mike's Schedule Voting Record District Maps Register To Vote FAQ Site Map e-Updates

An update from the office of
U.S. Representative Michael E. Capuano
8th Congressional District of Massachusetts

Congressman Capuano's
E-UPDATE

Thanks for signing up to receive this periodic correspondence. We hope you find the information useful. As always, let us know if you have any questions, comments or concerns. Office contact information is provided at the end of this e-mail.

This is an unattended mailbox. Please do not reply directly to this e-mail. Instead, if you wish to e-mail us, please use the Write Your Rep account at http://www.house.gov/capuano/contact.


October 3, 2008

Dear Friends,

Today the House took up the Senate-passed version of The Emergency Economic Stabilization Act of 2008. As I did on Monday, I voted for this measure because after a great deal of reflection, I concluded that we must take action to stabilize the economy. No one is happy about the circumstances before us and this was a difficult vote for every Member of Congress. It is by far the most difficult vote I have cast as a Member of Congress.

In the final analysis, I supported this package because I am convinced that the risk to our economy is just too great. For me, it came down to balancing the risk of voting yes and saving the economy for all Americans while incurring a potential cost to taxpayers versus the risk of voting no and watching the world economy collapse. I took what I thought was a smaller risk for my average constituent.

As I have reported before, many experts believe that this is the biggest economic crisis our nation has faced in decades. They have warned that we will encounter a major decrease in access to credit and all Americans could be impacted in some way.

Most obviously, private and public pension funds have suffered losses over the last several months. The ability to obtain a mortgage, car loan, home equity loan or student loan has already been severely restricted. Small businesses have already had difficulty obtaining loans to run or expand their business. Just today, the Labor Department reported 160,000 jobs were lost in September alone. In a separate action, the House today also passed legislation providing additional unemployment compensation to help workers impacted by our struggling economy.

I supported this measure because I am just not willing to risk putting the jobs, pensions and 401(K) plans of hard working Americans on the line while we wait for a better bill. There will always be more ideas and courses of action for every issue before the Congress. But at some point, we must take action on the measures before us. If we wait for the perfect bill, we will never cast a vote. I believe that this scenario was clearly illustrated this week. After the House failed to pass a clean bill, the Senate took that as a license to add whatever they could. Many provisions they added are worthwhile and had already passed the House as separate bills, including protecting the middle class from the Alternative Minimum Tax, providing mental health parity in health insurance plans, and extending tax credits to encourage energy conservation. But I believe that some of their other additions are simply not in the best interests of America .

After the House voted down an earlier version of this legislation Monday, the stock market lost more than $1 trillion dollars in value. Those losses were not limited to Wall Street fat cats. Those losses impacted private and public pension funds, college savings plans, college endowments and many others. Even states and municipalities are struggling to finance roads, schools, hospitals and other projects as the economy worsens.

Although the legislation that was before us today could have been much improved, there are a number of important protections in this bill: limits on executive compensation; help for qualified homeowners facing foreclosure; help for tenants living in foreclosed homes; an increase in the Federal Deposit Insurance Corporation (FDIC) limit of insurance coverage to $250,000; and deadlines on recommendations for additional necessary regulations on the financial industry.

I want you to know that each and every email and phone call on this issue was important to me. As always, I thank you for sharing your opinions with me. I hope you will continue to do so, on every issue that is important to you. The entire roll call is recorded below:

  YEA NAY PRESENT NOT VOTING
DEMOCRAT

172

63

0

0

REPUBLICAN

91

108

0

0

TOTAL

263

171

0

0

MASSACHUSETTS
DELEGATION

8

2

0

0


Sincerely,
Mike Capuano


Congressman Mike Capuano
8th District, Massachusetts
Committee on Transportation and Infrastructure
Committee on Financial Services
Committee on House Administration

District Offices:

110 First Street, Cambridge, MA 02141
and
Roxbury Community College, Campus Library, Room 211

District Office Phone:

(617) 621-6208

DC Office:

1414 Longworth Building, Washington, DC 20515

DC Office Phone:

(202) 225-5111

Website and e-mail:

www.house.gov/capuano


We welcome feedback on our e-updates. Please let us know what you think of this service by e-mailing the office via our website at http://www.house.gov/capuano.


You have received this e-mail because you subscribed to Rep. Capuano's E-Mail Updates authorizing Rep. Capuano to send your inbox periodic e-mail updates from his Congressional office.

PRIVACY POLICY: Your e-mail address will not be shared with anyone else or sold in any way. To read the complete privacy policy, visit: http://www.house.gov/capuano/privacypolicy.shtml.

UNSUBSCRIBE: if you would like to unsubscribe from this newsletter, you may do so at this address: http://www.house.gov/capuano/e-updates/unsubscribe.shtml.



8,263 subscribers

 

 

 

NEWS & MULTIMEDIA

 

Privacy Policy

To protect your privacy, subscriptions to Rep. Capuano's E-Updates are subject to our Privacy Policy.

 

Bill Search

Use the THOMAS search engine to search bills from the 113th Congress.

 

i.e "hres 142"

 

i.e "health care"

 

Newspapers

 

News Services

Here are some informative online news services to help you find reports from Boston and the region, as well as national and international news stories.

 

Home | About | Biography | Contact | Issues | Links | News | Schedules | Services

E-Updates | Site Map | Privacy Policy | Accessibility

110 First Street
Cambridge, MA 02141
P: (617) 621-6208
F: (617) 621-8628
Hours

Roxbury Community College
Campus Library
Room 211
Boston
Hours

Stetson Hall
Room 124
6 South Main Street
Randolph
Hours

  Constituent Services Click to close menu
  Casework and Constituent Assistance
  Citizenship/Naturalization Information
  Immigration Casework
  Ordering Flags Flown Over The Capitol
  Presidential Greetings
  Tours
  U.S. Service Academy Nominations
  Internship Programs
  Washington, D.C. Attractions
  Grants and Federal Domestic Assistance
  FAQs
  News and Multimedia Center Click to close menu
  e-Updates
  Recent Votes
  Press Items
  Video and Audio
  Photo Gallery
  Legislative Issues Click to close menu
  Mike on the Issues
  Recent Votes
  Mike's Voting Record
  Scorecards for Mike's Votes in Congress
  Legislation Sponsored by Mike
  Earmark Requests
  Committees and Caucuses
  Ethics Task Force
  Congressional Schedules Click to close menu
  Mike's Schedule
  House Floor Summary
  Weekly House Schedule
  Annual House Calendar
  Weekly Senate Schedule
  About The 7th District Click to close menu
  Maps
  Cities
  Demographics
  The 7th District Over the Years
  Nobel Prize Winners
  Interesting facts about Massachusetts
  Massachusetts Links
  Links Click to close menu
  Massachusetts Links
    State Government
    About the 7th District
    Arts, Culture and Attractions
    Chambers of Commerce
    Colleges and Universities
    Exploring Massachusetts
    Hospitals and Health Organizations
    Newspapers
    Sports

  Federal Government Links
    USA.gov - Official Government Portal
    Legislative Branch
    Executive Branch
    Judicial Branch
    Federal Agencies
    Kids' Pages
    Register to Vote
    Washington, D.C. Attractions
    Business Opportunities with the Government

  Links For Students
 
  Contact Mike Click to close menu
  District Office
  Washington, D.C. Office
  Office Hours Program
  Community Meetings
  E-mail Mike's Office