Votes for rescue plan commended

Times Argus Staff
October 12, 2008

SOUTH BURLINGTON — The president of the Vermont Business Roundtable praised U.S. Rep. Peter Welch and U.S. Sen. Patrick J. Leahy recently for their votes in favor of the Emergency Economic Stabilization Act of 2008 that passed the House last week.

"We commend Congressman Welch and Senator Leahy on their courage in voting for this plan, even as many others are divided over the need for it and its benefit to both the individual taxpayer and the businesses that create and maintain jobs," Lisa Ventriss president of the business roundtable said after the legislation passed.

The $700 billion financial rescue plan passed in the house by a vote of 263-171.

"In the end, the Vermont Business Roundtable believes decisive action is needed by the federal government to protect Vermont and the nation's economy, and the support of Vermont's Congressional delegation was critical to improving the failed version of earlier in the week," Ventriss said.

Leaders of the 110-member Vermont Business Roundtable met with Welch by conference call on Sept. 30 to discuss how the nation's credit crisis was affecting Vermont businesses and individuals.

More than two dozen of the organization's CEO members participated in the call, which was led by Roundtable Chair Tim Volk of Kelliher Samets Volk in Burlington, and moderated by Jim Keyes of Worth Mountain Capital Partners in Middlebury.

Ventriss also discussed the Roundtable's position with Leahy's staff later in the week. "Our call with Congressman Welch was designed to provide clear examples of how the credit crisis is affecting Vermont's private and non-profit sector employers, Ventriss said.

"We commend him for incorporating that information into his decision-making process on behalf of all Vermonters."