Tom Allen in 2008 ME Senate Debates

On Budget & Economy: Bush administration’s debt has failed middle-class America

On Energy & Oil: 1%-interest loan for home weatherization projects

Collins also said she would rein in big oil company tax subsidies, expand domestic oil production and pursue the development of alternative energy sources.

Allen said he supports a $2,000 tax credit per family for home heating this winter, a 1%-interest loan for home weatherization projects, ending subsidies for oil companies, and expanding energy source alternatives.

On Free Trade: Review existing trade agreements that damaged US economy

Collins said trade agreements have created some jobs in Maine, such as an agreement with Chile for Maine potatoes at Burger King restaurants. But some trade agreements have resulted in tariffs that have hurt other Maine agricultural and forest sectors, she said.

Allen said he is co-sponsoring legislation that would review existing trade agreements that have done a lot of damage to the U.S. economy.

On War & Peace: We need strong economic sanctions against Iran

Collins calls on the US to take the lead in exerting economic pressure on Iran to stop its nuclear weapon development. “This is not something the US can do alone,” she said.

On Budget & Economy: Driving up debt & unbridled free market caused bank crisis

But she said a 2005 House bill to tighten regulations was too weak, and that Allen voted against two amendments that would’ve strengthened it. That version died in the Senate. But a different bill, with the amendments, eventually became law last July.

Allen said the bigger problem is the economic policies of President Bush. He said they drove up the national debt. At the same time, there was a lack of oversight of Wall Street practices, Allen said. “The belief in letting the markets run their course has never been stronger than in this administration,” he said.

Both Collins and Allen agreed that the revised version of the bailout vote was better than the first because it had added oversight and more safeguards for taxpayers.