Capps' Statement on the Economy and a Possible Economic Stimulus Package

Press Release

Congresswoman Lois Capps released the following statement regarding the economy and a possible economic stimulus package:

"It is clear to me from my conversations with constituents throughout the Central and South Coasts that we are facing challenging economic times as more people are struggling to make ends meet while the cost of essentials like groceries, gas and health care continue to rapidly rise.

"Last year the Democratic-led Congress made significant progress in easing the economic crunch for American families by passing billions of dollars in tax relief for middle-income Americans and American small businesses, providing legislation to address the subprime mortgage crisis, increasing the minimum wage for the first time in a decade, enacting a landmark energy bill that will save on energy costs and the largest college cost assistance package since the 1944 GI bill. While this is a good start, we must do more to help ease the burden for American families.

"I am encouraged that President Bush agrees with Members of Congress from both parties that an economic stimulus package is necessary, and that he appears willing to work with Congress to quickly provide relief to the American people. There is a broad bipartisan support for quickly enacting an economic stimulus package plan that is timely, targeted and temporary. I believe that legislation putting money in the hands of low and middle-income Americans and encouraging businesses to invest would be the most effective steps to help our fragile economy.

"I am hopeful that Congress and the President will quickly come together on the details of this economic stimulus plan in the days ahead."

Source