Congressional Candidate Allen West on The Homeowners Defense Act

Statement by Republican 22nd Congressional Candidate Allen West on The Homeowners Defense Act

(Deerfield Beach, FL) Last Tuesday, the House Financial Services Committee voted for another piece of big government legislation designed to grow the size of government.  The “Homeowners Defense Act” is nothing more than another government bailout that will reward insurance companies and the financial services industry, both large financial supporters of Ron Klein’s campaign. Eli Lehrer of the Heartland Institute, a think tank in Chicago, said the legislation was  ‘one of the very worst pieces of public policy” in an article he authored for The Weekly Standard.  This so-called Beach House Bailout will result in very little benefit for the general public at the expense of higher taxes to the vast majority of Floridians and Americans. “The most pressing issue for America, and indeed Florida with a 12.3% unemployment rate, is job creation, not creation of a Fannie Mae/Freddie Mac equivalent for disaster insurance. We continue to witness an unprecedented expansion of the federal government which results in the borrowing of more money, printing of more money, and the raising of taxes” said West.

“Just as we have seen with other sectors of the financial services industry, the idea of expanding government bureaucracy to include disaster insurance is doomed to fail.  Americans and Floridians are tired of being held liable for the Government’s failures.  Let’s call this awful piece of legislation what it is – an opportunity for Klein-Pelosi-Frank political machine to further reward their financial backers at the expense of the taxpayer, and create a facade of achievement for a vulnerable congressman” West concluded.

Hat Tip The Fabulous Atlas Shrugs

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