The Evergreen State’s other senator, Democrat Patty Murray, supported the legislation while acknowledging it was far from a “cure-all” for the nation’s economic woes.

The bill, which the House is expected to consider by Friday, contains a provision extending major tax breaks, including one allowing the deduction of state and local sales taxes on federal returns. That tax break has saved Washington state residents between $350 million and $500 million annually.

In a brief but heated speech on the Senate floor, Cantwell said the bailout essentially represented a misuse of federal tax dollars that are traditionally used to leverage private investment in rescuing ailing companies.

“The problem with the legislation before us is we are choosing winners and losers,” she said.

Murray, a member of Democratic leadership in the Senate, said the package was “an attempt to keep an already bad situation from getting worse. This is not the legislation I would have written. It’s not legislation I wanted to support.”

But, Murray said, “I will support this package because the American dream of owning a home or going to college is simply too important to take a back seat to politics or to be put at risk by the misdeeds of Wall Street.”

In a lengthy statement, Murray said she had heard not only from such companies as Weyerhaeuser, Microsoft and Avista but also people worried that the credit crunch might make it impossible to get mortgages or student loans.

“Across the board there is deep and genuine concern about market collapse and the potential impact on jobs, credit and retirement accounts,” Murray said, adding that she too was angry because the situation was preventable. “But the reality is that those who created the problem won’t be those who are hurt most. The hardest hits will be taken by average Americans.”

Les Blumenthal: 202-383-0008

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