SWIMMING IN MONEY, GUTKNECHT LEAVES VETERANS HIGH AND DRY

07/21/2006

(ST. PAUL) 7/21/06 – In yet another example of his misguided priorities, Gutknecht accepted another $6,000 in campaign donations from finance-industry political action committees during the second quarter, only weeks after his April anti-veteran vote on the now infamous bankruptcy bill.

Not only did Gutknecht vote for the bill, which Democrats and moderate Republicans alike rejected because it was so harsh to American consumers, but he voted not once, but twice against a bankruptcy exemption for veterans returning from overseas duty in the War on Terrorism. [S.1920 Motion rejected 170Y-198N. January 28, 2004. Roll call 9; S.256 Motion rejected 200Y-229N. April 14, 2005. Roll call 107.]

“Rep. Gutknecht’s votes against protecting our veterans from financial ruin at the hands of predatory creditors are almost incomprehensible until one looks into his campaign coffers,” said Minnesota DFL Chairman Brian Melendez. “Then it becomes abundantly clear that Gutknecht sold the financial security of our soldiers to the highest bidder. Perhaps our veterans’ financial security is just another aspect of war that Gil Gutknecht ‘doesn’t understand.’”

Yesterday, the Washington Post reported:

This week, [Gutknecht] conceded “I guess I didn’t understand the situation,” saying that a partial troop withdrawal now would “send a clear message to the Iraqis that the next step is up to you.” [Washington Post, 7/20/06]

A retired Command Sgt. Major, Tim Walz speaks from experience about the financial burden placed on deployed National Guard soldiers.  “I look at things like exemptions to the bankruptcy bill for soldiers as national security matters. As an officer, the last thing I want is for my soldier to be distracted by financial worries while he is guarding a checkpoint with a loaded weapon,” said Walz.

“Forty percent of National Guard and Reserve soldiers take a pay cut when they deploy and it is unfair for my opponent to ask them to shoulder debt incurred due to their deployment as soon as they get back. Democrats are not asking for immunity for veterans; we’re asking for a brief reprieve so our soldiers can get back on their feet. My opponent denied them that reprieve.”

Gutknecht’s previous donors in the finance industry include the American Bankers Association, the National Association of Mortgage Brokers, and the American Collectors Association (ACA) PAC.  The ACA website states the organization includes “third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates,” – entities that all stood to benefit enormously from the passage of the bankruptcy bill.

During the course of his congressional career, Gutknecht has accepted a total of $175,574 from the industry. During the 2006 election cycle, Gutknecht has already accepted nearly $20,000 from these moneyed interests.