(Washington, D.C.)– Both U.S. Senators Chuck Grassley and Tom Harkin say they reluctantly voted for a new version of the economic stabilization bill that passed the Senate Wednesday night.
Harkin say he firmly believes Congress should not have had to take the action, but he says they needed to do something to calm the markets and restore confidence in the economy.
Harkin says it does contain some recommendations he made after the original bill was defeated in the House. One of those has the Inspector General overseeing the emergency efforts in the Treasury Department.
Grassley says the executive compensation provisions in the bill are “window dressing rather than a legitimate attempt to prevent golden parachutes and multi million dollar paychecks for failed leadership.” But Grassley says the legislation is necessary “because of what’s at stake for Main Street America”.
The House votes on the bill Friday.
