Porter defends vote for bailout measure

WASHINGTON -- Saying it was "the right thing to do," Republican Jon Porter was the only Nevada lawmaker to vote Monday for the $700 billion bill to shore up the nation's economic system.

Rep. Shelley Berkley, D-Nev., and Dean Heller, R-Nev., voted against the measure, which was defeated by a vote of 228-205.

"My constituents in Nevada are hurting, frightened and angry," Porter said.

"The impact (of the nation's financial crisis) in Nevada is probably the worst in the country," he said.

Before the vote, Porter said he received hundreds of calls from constituents opposed to the bill. But when the stock market plunged after the vote, he said the calls began to shift.

Porter said he did not like the bill, but Congress must act "to prevent further collapse."

Locked in a tight race with Democratic state Sen. Dina Titus, Porter said he was willing to risk his re-election to a fourth term.

"Today is the time for leadership, and I'm convinced I did the right thing," he said.

Titus said in a statement that the plan was improved from the Bush administration's original proposal but still lacked "critical" mortgage regulations or help for families facing foreclosure.

"If Washington is going to bail out Wall Street, there has to be some relief for families who played by the rules yet are faced with losing their home," Titus said.

Berkley said the plan was unclear about compensation limits for financial company executives helped by the bailout. She said the bill was "rushed," leaving House members little time to digest it.

"We must produce as good a piece of legislation as possible, even in a tight time frame," she said.

Berkley spokesman Richard Urey said calls from her constituents were running about 99 percent against the economic recovery bill.

Heller issued a statement saying, "I cannot with good conscience put Nevada's taxpayers on the hook for the foolish excesses of Wall Street."

Heller said the legislation would not help Nevada's middle-class families, small businesses or economy.

"Congress should pass legislation that allows the market to correct itself," Heller said.

Democrat Jill Derby, who is running against Heller in a rematch of their 2006 race, said she would have opposed the bill but criticized Heller and others in Congress for failing to show the leadership needed to achieve a solution.

The Associated Press contributed to this report. Contact Stephens Washington Bureau reporter Tony Batt at tbatt@stephensmedia.com or 202-783-1760.