Sununu: Economic Recovery Legislation Protects Access to Credit for New Hampshire Families and Small Businesses

Press Release

SUNUNU: ECONOMIC RECOVERY LEGISLATION PROTECTS ACCESS TO CREDIT FOR NEW HAMPSHIRE FAMILIES AND SMALL BUSINESSES

Tax incentives added to the bill will encourage economic growth and job creation

United States Senator John Sununu (R-NH) today (10/1) announced that he will vote for the "Emergency Economic Stabilization Act of 2008" - bipartisan legislation that places taxpayers' interests first and provides the American economy an opportunity to move forward on the road to recovery. Sununu has long supported tax incentives that will also be considered this evening and will vote to include them as part of the final economic recovery package that comes before the Senate later tonight.

"The dramatic fall in home prices across America has triggered the greatest financial crisis in decades. We have already begun to see new restrictions on access to student loans, mortgages, and car loans that families and small businesses in New Hampshire depend on every day," said Sununu. "This bill is far from perfect, but it is necessary, and necessary now to protect all Americans."

"Negotiators, led by Senator Judd Gregg and others, have worked hard to improve taxpayer protections that I have called for from the start: better Congressional oversight, a temporary structure, and assurances that any gains will be used to pay down the national debt," Sununu continued. "Expanding the Federal Deposit Insurance Corporations coverage adds an important level of security and confidence for the small businesses that are the lifeblood of New Hampshire's economy. Additionally, extending tax incentives and research and development will encourage renewed investment and job creation."

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