Issue Position: Budget and Economy - Economic Stimulus

Issue Position

As we confronted the crisis, and I heard from hundreds and thousands of constituents feeling the impact, I felt it was essential for Congress to take action. We worked quickly to develop legislation that addressed immediate needs and sets us on a path toward economic recovery and growth.

From the beginning, I have made it clear that I will only support meaningful and fiscally-responsible economic stimulus efforts. A package should be based on three principles: first, it must be limited to a true stimulus package - that is, it must provide a strong boost to our economy in the short term; second, it should not be used to provide further special tax breaks to the wealthiest individuals and corporations; and third, the package should be targeted to assist those who are facing special financial challenges, including those who have lost their jobs due to the economic downturn.

The American Recovery and Reinvestment Act passed into law on February 17, 2009. It represents a strategic - and significant - investment in our country's future. The Act is designed to:

* Save and create more than 3.5 million jobs over the next two years;
* Take a big step toward computerizing Americans' health records, reducing medical errors, and saving billions in health care costs;
* Revive the renewable energy industry and provide the capital over the next three years to eventually double domestic renewable energy capacity;
* Undertake the largest weatherization program in history by modernizing 75 percent of federal building space and more than one million homes;
* Increase college affordability for seven million students by funding the shortfall in Pell Grants, increasing the maximum award level by $500, and providing a new higher education tax cut to nearly four million students;
* As part of the $150 billion investment in new infrastructure, enact the largest increase in funding of our nation's roads, bridges, and mass transit systems since the creation of the national highway system in the 1950s;
* Provide an $800 Making Work Pay tax credit for 129 million working households, and cut taxes for the families of millions of children through an expansion of the Child Tax Credit;
* Require unprecedented levels of transparency, oversight, and accountability.

We are beginning to see the positive impact that the stimulus package is having on this country. Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third quarters. Extra funds flowing into the economy help boost consumption, investment and spending, slowing the rate of decline and laying the groundwork for positive growth. Some economists say the contraction would have been far worse if not for the stimulus.

In the second district of Wisconsin, we have seen millions of dollars of investment in workforce development, infrastructure spending, housing assistance, and health care for those who need it. For more information on how the ARRA impacts Wisconsin, please visit www.recovery.wisconsin.gov.

Along with President Obama and other members of Congress, I fought for this legislation to be completely accountable to the American taxpayer. You can follow every dollar spent through the stimulus on www.recovery.gov.

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