Rep. Randy Neugebauer's blog

Since the beginning of the year, the Democratic majority continues to advance an agenda of more spending and greater debt in Congress.

Just two weeks ago, we saw passage in the House of a devastating national energy tax in the form of the "cap and trade" bill. This legislation, containing 397 regulations and 1,060 government mandates, is projected to cost American families more than $3,000 a year, raise energy bills by $1,500, and reduce employment by more than a million jobs. My hope is the Senate puts the brakes on this misguided legislation.

Earlier today, President Obama announced plans to provide another $30 billion in federal money to General Motors in addition to $20 billion received from earlier bailouts. Under this reorganization plan, the American taxpayers will hold a 60 percent ownership stake General Motors.

I believe putting the federal government in this large of an ownership position of a private company is the wrong approach. General Motors should be allowed to enter into bankruptcy without the Obama Administration dictating a restructuring plan and the taxpayers taking on the risk.

Over the weekend, families across the 19th Congressional District gathered to celebrate the beginning of summer. And while we enjoyed the weekend celebration with friends and loved ones, we must also recall the real reason we mark the fourth Monday in May. This year, as our troops continue to serve in Iraq and Afghanistan, we should all pause to honor the brave sacrifices made by America's Armed Forces. The freedoms we cherish today are a result of the courageous acts of countless Americans who answered their nation's call to serve the cause of liberty.

On Tuesday, I will meet with Jim Miller, Under Secretary for Farm and Foreign Agricultural Services at USDA. This introductory meeting will be a chance to discuss the ongoing implementation of the 2008 Farm Bill and the new Administration's agriculture agenda. I also hope to share my views with Under Secretary Miller on how the cap-and-tax energy proposals would impact the agriculture community in the 19th Congressional District.

I look forward to meeting Under Secretary Miller and helping him to understand the importance of agriculture in the 19th Congressional District. I will keep you informed of the outcome of this meeting.

Cap and Tax Update

Washington, D.C. - Today, Congressman Randy Neugebauer, Deputy Ranking Member of the Financial Services Committee, sent a letter to Treasury Secretary Geithner regarding comments by the Administration about the option of converting TARP preferred shares in banks into common equity shares:

"The federal government should not make taxpayers common shareholders in American banks. Such a conversion plan would only expand the government's intervention in the financial sector and put investments made on behalf of taxpayers at greater risk.

A Weekly Newsletter from Congressman Randy Neugebauer

Working to Reduce Wasteful Washington Spending