Washington, DC – U.S. Rep. John Hall (D-NY19) introduced legislation in the House today calling on Treasury Secretary Geithner to use the power of the Treasury to either stop the recently rescued Citigroup from purchasing a $50 million corporate jet or to reimburse taxpayers for the price of the jet. Congressman Hall is leading a growing list of Members of Congress who are supporting Hall's bill.

 

"This is an absolute outrage and Congress is not going to allow Citigroup to get away with this," said Hall. "Citigroup is using taxpayer money to buy a foreign built private jet while Americans are losing their jobs and homes at record levels and the small businesses that are so many families' hopes and dreams are collapsing. I voted for the financial rescue funds only under the premise that the money was desperately needed to free up the credit markets – so small businesses could obtain loans to continue operating and individuals could buy and sell homes, cars and access loans to send their kids to college. A $50 million private jet funded by taxpayers is not what I voted for. If the Citigroup executives still have jobs after this fiasco, they can fly coach. The taxpayers are going to get that $50 million back."

 

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