Change to Win Demands Action On Main Street Concerns in Wall Street Bailout

Grassroots Reject Bailout According To Union Leaders

FOR IMMEDIATE RELEASE
Friday, September 26, 2008

CONTACT: Greg Denier
Noreen Nielsen
202-721-0660

WASHINGTON, D.C. -- One of the largest organizations of working Americans, Change to Win, called for rejection of Bush's $700 billion welfare for Wall Street plan today, and demanded immediate Congressional action to create a financial rescue plan that addresses the concerns and needs of Main Street.

"Grassroots Americans are rising up and they are mad as hell. Members of Congress need to listen to the voices of the people of Main Street -- they think this bailout of Wall Street stinks," said Teamsters General President Jim Hoffa. "Our proposal is in line with what the majority of Americans want right now -- to restore financial stability, provide relief to homeowners, pass economic stimulus legislation to create more jobs and protect the pension plans of average Americans."

The Change to Win immediate action program calls for:

  • Revision of bankruptcy laws to allow judges to restructure mortgages and interest rates to keep working families in their homes
  • Pension Fund eligibility for participation in any financial rescue plan
  • Economic stimulus legislation including extended unemployment benefits, funding of infrastructure projects and assistance for state and local governments to prevent devastating cuts in essential public services.

"The congressional Republican leadership as well as John McCain have walked away from their responsibility to working families. They have no plan. They have no ideas. We are calling on the Democratic leadership in Congress to act now to revive the economy -- and, finally renew working Americans' faith in their government," said Bruce Raynor, General President of UNITE HERE.

Anna Burger, Change to Win Chair, said the six million member union partnership was raising its voice and expressing the outrage of workers across Capitol Hill. "Workers will not accept their tax dollars being turned over to the fat cats who took multi-million dollars bonuses and then bankrupted their companies and now threaten our entire economy. Action on the bailout will shape the votes of working Americans in November."

The Service Employees International Union (SEIU) announced its program to mobilize its grassroots political network to put the message of opposition to the bailout and the Change to Win alternative on the doors, in the mail boxes, on workplace bulletin boards, and in phone calls to its two million members and their families.

"The 20th century economy is dead. We need a new economic model that addresses the real concerns of America's working families, and we need to make long-term investments in the future of working people. We are going to make sure workers have a place at the table and a voice in the decisions," said SEIU President Andy Stern.

Change to Win has outlined a comprehensive "Main Street Recovery" plan that would address the underlying economic crisis with a program to restore worker purchasing power, reduce health care costs and provide universal access, invest in green jobs and rebuilt infrastructure, and promote expanded educational opportunity.

"This is a crisis, but it is also an opportunity for our nation to resolve to build America so America works again. Now more than ever we need an economic stimulus plan that creates good jobs and takes care of the basics that working people depend on every day and which have deteriorated due to neglect -- our transportation systems, our energy systems and our schoolhouses. Showering Wall Street with $700 billion will not alone get our economy back on track. We need real economic stimulus that creates jobs," said Terence M. O'Sullivan, General President of LIUNA.

** Note: Media representatives interested in scheduling an interview with Change to Win Leaders to discuss our position on the bailout plan should contact Noreen Nielsen at Noreen.nielsen@changetowin.org. More information on Change to Win's Main Street Recovery program is available. **