DENVER—Colorado Republican Sen. Wayne Allard voted against the $700 billion rescue package for Wall Street on Wednesday, while Democratic Sen. Ken Salazar voted for it.
The measure passed, 74-25, and now goes to the House.
Allard said the measure is based on “assumptions and guesswork,” with no evidence it will succeed.
“I believe that Congress can find a way to unfreeze the credit markets without unfairly penalizing American families for the greed and mismanagement on Wall Street,” he said.
Salazar said the measure was imperfect and that he, like taxpayers, is angry the economy has fallen into crisis. But he said Congress must act to keep the credit markets from seizing up.
“Middle class families are being asked to tackle a problem that is not of their own making. But I believe the risks of doing nothing are too great,” he said.
Allard is retiring from the Senate when his term ends in January. Salazar is not up for re-election this year.
The House rejected a similar measure on Monday, 228-205, but is expected to vote on a revamped bill by Friday.
Four of Colorado’s House members voted against the bailout Monday: Democrats John Salazar and Mark Udall and Republicans Marilyn Musgrave and Doug Lamborn. Three voted yes: Democrats Diana DeGette and Ed Perlmutter and Republican Tom Tancredo.
John Salazar, Musgrave, Lamborn, DeGette and Perlmutter are running for re-election. Udall is running for Allard’s Senate seat and Tancredo is retiring.
