Congressman Dennis Cardoza
18th Congressional District of California

WASHINGTON, DC – Citing “bailout fatigue,” Congressman Dennis Cardoza opposed the majority of his party Wednesday night and voted against the proposed $14 billion bailout for the nation’s auto industry.

“We must focus our rescue efforts on our nation’s foreclosure crisis,” Congressman Cardoza said. “That is at the root of our economic problems. And that is why I have been calling for a 30-year mortgage plan with a fixed 4.5 percent interest rate for all homeowners.”

Congressman Cardoza said his constituents had made it clear they did not support the auto industry bailout. He further said that the Treasury Department has so far failed to properly spend the previous economic recovery funds appropriated by Congress.

“It is time that we stop using band-aids to address our nation’s economic hemorrhaging and get to the source of the problem, our nation’s failing mortgages,” Congressman Cardoza said.