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Lance Continues His Push To Let Tarp Expire, Direct Funds To Debt Reduction

7th District Lawmaker Says TARP Not A Slush Fund For More Federal Spending

WASHINGTON - Congressman Leonard Lance, (NJ-07), one of the leading voices in Congress to reduce the Nation's debt, today renewed his call to allow the Trouble Asset Relief Program (TARP) to expire at the end of this year and direct repaid funds and interest toward debt reduction. Various news outlets have reported that leaders in Congress are planning on tapping bank bailout funds for a second federal stimulus spending bill."The TARP law was meant to provide a one-time infusion of funds raised to help stabilize a financial system on the brink of failure," Lance said. "Yet there are some leaders in Washington that see the TARP funds as a trough of unspent money for more federal spending. That's wrong and fiscally irresponsible at a time when our federal debt stands at more than $12 trillion."In a letter to Treasury Secretary Geithner, Lance and more than three dozen House Republicans have asked that the program be allowed to expire at the end of the year and direct the more than $325 billion to debt reduction. The letter was prompted to news reports like one found in today's New York Times that said, "Democrats in Congress have already decided to divert about $70 billion from what is left in the bailout fund to the cost of additional road-building and other construction projects, credit to small businesses and further aid to state and local governments." "In order for the government to exit from the unprecedented interventions of the past year and a half, the government must first stop spending funds on more interventions," the lawmakers urged Geithner. "The emergency has ended, and TARP must end as well." Lance is a cosponsor of legislation (H.R. 2119) that would require the U.S. Treasury to apply TARP funds to debt reduction. In June the Seventh District lawmaker called on President Obama and the Secretary of the Treasury to direct TARP monies to deficit reduction. And as a member of the House Financial Services Committee Lance has voted five times to protect taxpayers from misuse of the TARP fund.

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LANCE MEETS WITH JOHN WEIGEL OF HUNTERDON COUNTY

WASHINGTON - Congressman Leonard Lance (NJ-07) today met with Hunterdon Central Regional High School sophomore John Weigele in his Capitol Hill Office. 

 

Weigele, 15, was in Washington to participate in the National Young Leadership Conference, which teaches young people how government works.  Weigele is the son of John W. Weigele of Raritan Township.

 

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LANCE, NEW JERSEY FAMILIES TOGETHER FOR DAYS OF REMEMBRANCE ON CAPITOL HILL

WASHINGTON- On Saturday, September 26, Congressman Leonard Lance (R-NJ) participated in a special ceremony known as the "Days of Remembrance" on the West front of the United States Capitol Building.  The event brought together citizens from across the country to honor all those who died in service to our country with a special tribute to America's fallen in Afghanistan and Iraq and the families they left behind.  
 
Specifically, Lance, who was the only New Jersey lawmaker to attend, joined scores of New Jersey families who participated in the event and honored their loved ones who died in their military service to America in Afghanistan and Iraq.  
 
"I was honored to join New Jersey families and remember all those who have died in service to our country and pay a special tribute to America's fallen heroes from New Jersey," said Lance.  "I was touched to hear their personal stories, observe their selfless sacrifices and witness their deep love for America."
 
New Jersey families from the following localities attended:  Mt. Holly, Cedar Knolls, Howell, Brick, Lindenwold, Mine Hill, Little Ferry, Lumberton, Clayton, South River, Kearny, Pitman, Milltown, South River, Pennington, Butler, Bradley Beach, Southampton, Gloucester City, Carlstadt, Neptune, Atco and Freehold.
 
The ceremony was sponsored by the White House Commission on Remembrance and Military Families United.  The White House Commission on Remembrance was established by Congress in 2000, and an independent, non-partisan government agency that encourages Americans to honor the sacrifices of our fallen and their families.  The organization promotes acts of remembrance throughout the year and asks citizens to pay our debt of gratitude in memory of those who died in service to our country by giving something back to the Nation.

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Congressman Lance, HMC to Host Community Blood

Jun 30, 2009 to Jul 29, 2010 Click Here For More Details

On Tuesday, June 30 from 11-2 p.m. Congressman Leonard Lance and the Hunterdon Medical Center will co-host a community blood drive.

The Blood Bank is located on in the Laboratory (3rd Floor) at Hunterdon Medical Center located at 2100 Wescott Drive in Flemington.

"Donating blood is one of most generous gifts a person can give to help others," said Lance, who regularly participates in blood drives.

Members of Lance's congressional staff will also hold a mobile office at the medical center to help residents who need assistance with a federal agency, such as the IRS, the Social Security Administration or Veterans Administration.

For more information about the Hunterdon County blood drive or the mobile office, please call 908-788-6900.

 

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