Tester statement on passage of Pay It Back amendment

Senator cosponsor of measure to use bailout money to pay down debt

(WASHINGTON, D.C.) – Senator Jon Tester today release the following statement after the Senate unanimously passed an amendment to use money from the 2008 Wall Street bailout to pay down the national debt:

“Montana’s working families and Main Street small businesses should never have to pay the price for greed on Wall Street. Using money from the Wall Street bailout—which I voted against—to pay down what we owe is a good first step to getting a handle on this country’s national debt.”  

Tester is a cosponsor of the Pay It Back amendment to the Wall Street reform bill. He is also cosponsor of similar legislation to pay down the national debt using Wall Street bailout money.

Tester, a member of the Senate Banking Committee, was the only Senate Democrat to vote against the 2008 Wall Street bailout and the auto bailout.

He is working with Senators from both sides of the aisle to sponsor amendments to the Wall Street reform bill that will strengthen the legislation to protect American consumers, end the era of too-big-to-fail and end taxpayer-funded bailouts.

The Pay It Back amendment is online HERE.