latest from rpc

The Associated Press reports this morning:

 The head of the FDIC said Tuesday the government needs to devise an “exit strategy” for its massive financial rescue plan to avoid artificially propping up banks and other institutions over the long term...

The far-reaching government guarantees extended under the rescue program -- now including $250 billion set aside for the Treasury to buy stock in U.S. banks, hundreds of billions in aid to giant financial institutions and hundreds more billions in special lending facilities to banks -- must be carefully assessed, Bair said.

On November 20th, I introduced a bill that would use free market incentives to help the auto industry. H.R. 7298 would offer consumers a $10,000 tax deduction when they purchase a new vehicle with final assembly in the United States.

The auto industry has a multitude of issues that need to be sorted out, but one thing is certain—they need to sell cars. This bill provides an incentive for anyone to do just that.