Christopher Shays

There aren't many times we get a second chance to do the right thing. This is the kind of vote our constituents sent us to make on their behalf. It is a legacy vote, one of the

most important votes we will ever cast, a vote we will carry with us the rest of our lives.

The majority of my constituents have voiced opposition to this bill, but the fact is, the financial markets lost $1.2 trillion in one day when we failed to act Monday afternoon. Some of that has been restored, but we are witnessing the possibility of our economy coming to a grinding halt.

I don't intend to play Russian roulette with our economy, or my constituents, which is why I voted for this bill when it came before us on Monday, and why I will vote for it again today.

Many of us on both sides of the aisle agree this is not a perfect bill. In fact, some of my financially savvy constituents have educated me about other ways we could intervene.

The bottom line is this legislation is a short-term solution to address a longer-term problem. Those of us back next Congress, and I make no assumption about my own election, truly have our work cut out for us.

This bill is for Main Street. It is for college and retirement savings and the value of homes. It is for access to car loans, student loans and mortgages. It is the ability of small businesses to borrow, expand, stock shelves, meet short-term cash needs such as payroll, and invest in new plants and equipment.

The credit market is tightening, strangling our economy. Liquidity has dried up and money is simply not getting to the individuals and businesses who need it. Consumers, savers and investors are losing confidence.

I am grateful the bill before us today will increase deposit insurance to $250,000, a recommendation I had made, so American depositors know their money in their bank is safe.

This crisis requires all of us to put our country first and our ideology and partisanship aside. We need to pass the Emergency Economic Stabilization Act and then go back home and face the voters. Those of us who are fortunate enough to return will have to come back, roll up our sleeves and do everything we can to help our country grow and our prosperity return.

Yesterday, the president of a community bank wrote me:

Congress needs to understand the consequence of money

moving out of banks.

Deposits enable banks to loan and expand the economy.

Withdrawals force banks to call in loans and contract the economy ten-fold.

Madam Speaker, I support H.R. 6867, which would provide up to 7 additional weeks of Federal extended unemployment benefits to workers in all States as well as an additional 13 weeks of Federal extended benefits for workers in States, like Connecticut, with unemployment rates of 6 percent or higher.

Connecticut's Fourth Congressional District has been hit particularly hard by financial market turmoil. According to PolicyMap.com, 20,655 Darien residents alone work in the financial, insurance, and real estate sectors. In light of Lehman Brothers and AIG bankruptcies, many Fairfield County commuters have found themselves unemployed.

In Westport, 19.4 percent of the town's 26,822 residents work in these fields, and 13.2 percent of Stamford's 120,338 residents are also employed in the financial sector.

I support extending unemployment insurance benefits to people who have lost their jobs and are having a difficult time finding work. In light of a recent economic downturn, turmoil in the housing market and rising unemployment it is the responsibility of Congress to assist workers and promote economic growth and employment.

Mr. Speaker, I support H.R. 7221, the Community Partnership to End Homelessness Act, and urge my colleagues to support the reauthorization of this important legislation.

The Stewart B. McKinney Homeless Assistance Act, now known as the McKinney-Vento Homeless Assistance Act, was first enacted in 1987 as the first major, coordinated Federal response to homelessness. McKinney-Vento homeless assistance programs were last reauthorized in the Housing and Community Development Act of 1992. Since then, Congress has considered numerous proposals to improve the program but not completed a full reauthorization of the legislation.

Passed in response to the rapid and dramatic growth of homelessness in the United States during the 1980s, the McKinney Act emphasized emergency measures, transitional measures, and long-term solutions to combat the homeless crisis.

Despite the impact of the McKinney-Vento Act, homelessness continues to be a pervasive problem in America. It is important Congress support a comprehensive range of programs beyond emergency food, shelter and health care services for the homeless.

We must promote the development of affordable housing, provide supportive services to those who are homeless or in vulnerable housing situations, acknowledge and study the high rates of homelessness among our Nation's veterans and recognize the critical role our schools play in preventing and ending homelessness among children.

I serve in the seat previously represented by Stewart McKinney. Stewart served as the ranking Republican on the House Banking Subcommittee on Housing, as well as the House Committee on the District of Columbia. It was in this capacity that he became especially concerned about homelessness, particularly in our capital city.

He loved urban areas and like our colleague Bruce Vento, he recognized homelessness is a national problem that requires a national solution.

Stewart's commitment to exposing the depth of the growing problem of homelessness in the 1980s led him to contract pneumonia after sleeping on a grate outside a Federal building with DC area homeless.

Shortly after his death on May 7, 1987, his family, friends and staff gathered to discuss how to continue his philosophy of caring for those who are the least able to care for themselves.

They created the Stewart B. McKinney Foundation, an organization whose mission is to provide funds to care for persons with HIV who are homeless or at risk of homelessness.

Today, Lucie McKinney continues the work Stewart began in his memory, and keeps his spirit alive in this precious foundation.

Stewart was beloved by his colleagues on both sides of the aisle. Reading the tributes that were offered to Stewart on this House floor on the day of his death, I was struck by his colleagues' appreciation for his humanity, warm spirit, bipartisanship, and dedication to doing good.