GOP leader concerned by escalating tax dollars for EU bailout

On June 4, Boutros-Ghali said, “If we are going to start including funds made available to Europe, then the IMF is not properly resourced.” 

Officials Monday are reportedly hammering out the final details of a $527 billion loan package to financially strapped European nations. The EU and the IMF have committed nearly $1 trillion to help these countries meet their debt obligations.  

However, trouble in the EU is fueling concerns that the U.S. economy is headed for a double-dip recession. 

McMorris Rodgers and House Republican Conference chair Mike Pence (Ind.) recently introduced nonbinding legislation that would force members to vote on whether they support the EU bailout. 

“Every member of Congress should go on record, either ‘yay’ or ‘nay,’ on whether or not U.S. tax dollars should go to a Euro-TARP,” McMorris Rodgers said. “Should Congress approve our resolution, it will send a powerful signal to the Obama administration that we cannot take this too-big-to-fail philosophy to a global level.”