Advertisement

Cantor says no state bailouts, bankruptcy

Cantor says no state bailouts, bankruptcy
Speaker of the House John Boehner, R-Ohio, (R) and House Majority Leader Eric Cantor, R-Va., (L) in Washington, Jan. 6, 2011. UPI/Kevin Dietsch | License Photo

WASHINGTON, Jan. 24 (UPI) -- U.S. House Majority Leader Eric Cantor, R-Va., says states should not to look to Washington to solve their financial problems.

"There will not be a federal bailout of the states," Cantor told reporters, The Wall Street Journal said Monday.

Advertisement

He also said he opposes the idea of giving states the ability to declare bankruptcy to wipe the financial slate clean, the newspaper reported. Some conservatives would like to see that option available so states can lighten their obligations for retirement and healthcare benefits for state workers.

Cantor said he doesn't see the need for state bankruptcy provisions to "stave off some kind of federal bailout," The Hill said.

"I don't think that that is necessary, because state governments have at their disposal the requisite tools to address their fiscal ills," Cantor said. "States can deal with this and have the ability to do so on their own."

Latest Headlines

Advertisement
Advertisement

Follow Us

Advertisement