CONGRESS WORKS FAST TO ADDRESS ECONOMIC DOWNTURN, BUT MORE WORK NEEDS TO BE DONE -- (House of Representatives - February 13, 2008)
(Mr. BUTTERFIELD asked and was given permission to address the House for 1 minute.)
Mr. BUTTERFIELD. Mr. Speaker, today President Bush will sign our bipartisan economic stimulus legislation into law. Getting this bill done quickly is a victory for the American people that will inject confidence and consumer demands, promote economic growth and create jobs.
130 million low- and middle-income Americans will receive tax rebates in the coming months. These rebates are welcome relief to many families who are struggling in this economy. Family incomes and home prices are down as health care and energy, food and education costs and mortgage foreclosures have climbed. Economists estimate that every dollar included in these rebate checks will lead to $1.26 in economic growth. The new law should also help create 500,000 new jobs by year's end.
Mr. Speaker, this economic stimulus package is a good first start, but this Congress will take additional action to help American workers and help our economy recover. We will also develop a plan for additional assistance, which could include extension of unemployment benefits, food stamps, State and local assistance, and Medicaid.