Congressman Cohen's Statement on the Passage of the Economic Stimulus Package

Statement

Congressman Cohen's Statement on the Passage of the Economic Stimulus Package

Congressman Steve Cohen (TN-09) released the following statement on the passage of the economic stimulus package approved today by the Senate. H.R. 5140, The Recovery Rebates and Economic Stimulus for the American People Act of 2008, passed the House of Representatives by a vote of 380-34.

"I am pleased that Democrats and Republicans in the House and the Senate worked together in a bipartisan fashion to pass this legislation which is hoped to be a stimulus for the American economy. Most economists feel that this action will ward off a recession and it is in that spirit that I voted for the bill. I'm pleased that the Senate amended the bill to extend benefits to additional seniors and disabled veterans that were not included in the original House bill. Nevertheless, I believe that the bill should have been more targeted to those who are most desperate for economic assistance by extending unemployment benefits, increasing food stamps and giving a cost-of-living adjustment to Social Security beneficiaries. Economists believe, and I agree, that the most effective way to ameliorate the recessionary conditions is to put money in the hands of people who will immediately reinsert it back into the economy, and I believe that we fell short in this regard."

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