Major Economic Stimulus Plan Signed into Law

Statement

Major Economic Stimulus Plan Signed Into Law

Schwartz: This Plan Directly Benefits 5.8 Million Hardworking Pennsylvania Households

U.S. Representative Allyson Schwartz released the following statement this afternoon after President Bush signed the bipartisan economic stimulus plan into law.

"I am proud to have played a role in this bipartisan economic stimulus plan. Our plan gets immediate relief to hardworking American families who are struggling. But our work in Congress is far from complete. We must do all we can to strengthen this economy, and I will continue to focus my efforts on the areas of great concern to all Americans: affordable healthcare, tax fairness for middle class families, and ensuring our 21st century economy creates well paying jobs with good benefits. "

Details on the economic stimulus package:

* This plan will result in an estimated 5.8 million Pennsylvania households receiving tax rebate checks on average of $845;
* Puts hundreds of dollars into the hands of more than 130 million American families including seniors and disabled veterans - who will spend it and help reinvigorate the economy;
* Builds on the child tax credit by offering a rebate of $300 per child;
* Expands financing opportunities for Americans in danger of losing their homes because of the mortgage crisis;
* Promotes small business investment in plants and equipment; and
* Helps create 500,000 jobs by the end of the year.

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