WASHINGTON, DC - House Majority Leader Steny H. Hoyer (MD) released the following statement today on the proposal from the Bush Administration to address the financial crisis:
"The proposal that the Bush Administration presented to Congress today would provide the Treasury Department with broad and sweeping authorities.
"While we must act quickly, we also need to act prudently. And, we must ensure that the average working American benefits from this action.
"I intend to bring legislation to the floor in the coming days after Chairman Frank, along with the Budget and Ways and Means Committees, have examined the proposal and make changes necessary to provide accountability, help working Americans and protect the taxpayer's interest."