McDermott casts "protest vote" against bailout

Democratic Rep. Jim McDermott said his opposition to the economic bailout proposal Friday was a "protest vote" made with the knowledge the bill would pass the House without his support.

"The public isn't getting anything for this, except we're handing money to the same people who basically brought about the problem," the Seattle Democrat said after the vote.

McDermott was the only member of the Washington delegation to change his vote from a similar proposal the House rejected Monday.

The congressman said he had some problems with the first bailout proposal but thought it was a good effort. The new version was passed by the Senate on Thursday and included some popular tax breaks, added to win more votes. McDermott said those add-ons "larded up" the rescue plan.

"I told the speaker [Nancy Pelosi], certainly, if she needed my vote she could have it, but ... I didn't want to vote for it, and I really lodged a protest vote."

The proposals added to the new plan include extending a program that pays rural counties hurt by federal logging cutbacks, allowing Washington state residents to continue deducting state sales taxes on their federal income tax returns, and providing tax credits for renewable-energy production.

The state's three Republican members of Congress — Dave Reichert of Auburn, Cathy McMorris Rodgers of Spokane and Doc Hastings of Pasco — also voted against the bailout plan, as did Democrat Jay Inslee of Bainbridge Island.

Inslee said the Senate's added tax proposals were good legislation, but "there are some amounts of gall you just can't abide."

He opposed the bailout both times, he said, because he doesn't believe it does enough to assist homeowners saddled with mortgages they can't afford, and it didn't make reforms to ensure the crisis wouldn't recur.

Federal action is required, he said, and he hopes the bailout works. But he said: "This particular scheme was both sadly inadequate and grossly inequitable."

Representatives who voted for the bill said they did so grudgingly because they felt they had to do something to stem the deepening financial crisis.

"I am not suggesting this is a perfect solution," Rep. Norm Dicks, D-Bremerton, said in a statement. "The time to act is now. This is the only option before us. We must pass it."

Rep. Rick Larsen, D-Everett, said the credit crunch was hurting small businesses in his district and that doing nothing was not an option, according to a statement he released before the House vote.

"To quote two of my constituents, 'Please vote for this bill — no one likes it, but we have to do it.' "

Emily Heffter: 206-464-8246