RECOVERY REBATES AND ECONOMIC STIMULUS FOR THE AMERICAN PEOPLE ACT OF 2008 -- (House of Representatives - January 29, 2008)
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Mr. YARMUTH. Madam Speaker, today we will pass a bipartisan economic stimulus package that will help American families and jump-start our growing economy.
Throughout our great country, hardworking citizens are making major sacrifices to make ends meet, cutting back on winter clothes to pay for heat, scaling back groceries to pay for kids' medical bills, or sacrificing college in attempt to prevent mortgage foreclosure.
For 117 million families, 1.6 million in Kentucky alone, rebate checks of $600 per individual, $1,200 per couple and an additional $300 per child will be in their mailboxes by as early as May. This is dramatic departure from the old strategy in which leaders hoped tax breaks for billionaires would trickle down to the people who really needed help.
Hope is a wonderful thing. But as the last 7 years have taught us, it is not effective fiscal policy for most Americans. By targeting those who need help, who we know without doubt will spend and invest and put money back in the economy, we aren't depending on hope; we're providing it.
I urge my colleagues to join me in providing that hope and jump-starting the economy today.