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Stimulus Package Aims to Jumpstart Economy

Press Release

By:
Date:
Location: Washington, DC

As our economy endures uncertainty, Chief Deputy Whip Diana DeGette (D-CO) today supported H.R. 5140, Recovery Rebates and Economic Stimulus for the American People Act, aimed at jumpstarting our slowing economy. The stimulus package passed on a broad, bipartisan vote of 385 to 35.

"The bipartisan stimulus package will provide much needed relief for American middle-class families struggling with skyrocketing oil and gas prices, increasing home heating bills, and health care costs that are on the rise," said DeGette. "Nearly $2 billion in total recovery rebates will be dispersed through Colorado, including almost 2 million households who will get a check of an average of $895 to help them with the staggering economy."

The bill passed today provides a recovery rebate to 117 million families, including 35 million families who work but make too little to pay income taxes and 13 million senior citizens. The broad-based stimulus package will provide tax relief of up to $600 per individual and $1,200 per married couple, plus an additional $300 per child.

"Our stimulus package also includes targeted tax cuts for small businesses, giving them incentives to expand their operations, hire new workers and help our economy get back on track. The Democratic Majority's immediate action will help counter the turbulent economic times ahead."


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