Senator John Thune issued the following statement after today’s vote of 53 to 45 on his amendment to end the Troubled Asset Relief Program (TARP). The amendment would prohibit further commitments of TARP funds and would mandate that all returned funds be used to lower our national debt. The amendment... Continue Reading
Senator John Thune today introduced an amendment to the House-passed debt ceiling increase currently before the Senate that would end the Troubled Asset Relief Program (TARP). Senator Thune’s amendment would prohibit the Treasury Department from making any further commitments of TARP funds and would mandate that all returned funds be... Continue Reading
Senator John Thune today highlighted a report on the Troubled Asset Relief Program (TARP) by the Congressional Oversight Panel that criticizes the program for overreaching and questions how the government program will divest itself of private businesses in the future. Over the last year, Senator Thune has worked to end... Continue Reading
Senator John Thune today applauded Republicans in the House of Representatives for offering a motion that would amend pending financial reform legislation by ending the Troubled Asset Relief Program (TARP) and requiring that unspent funds lower the budget deficit and that returned TARP funds be used to pay down the... Continue Reading
Senator John Thune today led a group of his Senate colleagues in sending a letter to U.S. Treasury Secretary Timothy Geithner urging him to allow the Troubled Asset Relief Program (TARP) to expire on December 31, 2009. Last year’s Emergency Economic Stabilization Act allows the Treasury Department to extend TARP... Continue Reading
The U.S. Chamber of Commerce, the world’s largest business federation representing three million businesses, has sent a letter to Senator John Thune and all of his Senate colleagues to express support for the Government Ownership Exit Plan Act (S. 1242). The legislation, which Senator Thune introduced last week, would prohibit... Continue Reading
U.S. Senator John Thune today introduced the Freedom from Government Competition Act (S.1167), a bill that would require federal agencies to rely on the private sector when providing goods and services that are readily available. The federal government has identified that roughly 850,000 federal employees perform jobs that can be... Continue Reading
Senator John Thune issued the following statement in response to the detailed budget proposal President Obama submitted to Congress today: “The President again failed to follow the example of South Dakotans who are making prudent financial decisions by not spending beyond their means. The President and the Democrats in Congress... Continue Reading
Senator John Thune today introduced an amendment to the Housing Bill (S.896) that would prohibit the Treasury Department from re-spending funds returned by financial institutions under the Troubled Asset Relief Program (TARP). Several financial institutions that received TARP funding have either returned or expressed an interest in returning billions in... Continue Reading
Senator John Thune today issued the following statement after his amendment protecting the full tax deduction for charitable giving was dropped from the Democrat budget after conference deliberations between the House of Representatives and the Senate: “Charities and nonprofits in South Dakota and across the country provide needed services to... Continue Reading
Senator John Thune today introduced a bill that would require the Secretary of the Treasury to use taxpayer funds returned by financial institutions under the Troubled Assets Relief Program (TARP) to reduce the national debt. Several financial institutions that received TARP funding have returned or expressed an interest in returning... Continue Reading
Senator John Thune issued the following statement today regarding the Congressional Budget Office’s revised budget deficit projections under President Obama’s record setting budget proposal. “These numbers are staggering and prove that spending in Washington is out of control. It is unconscionable to borrow this much money from China and force... Continue Reading
