Recovery Rebates and Economic Stimulus for the American People Act of 2008

Floor Speech

RECOVERY REBATES AND ECONOMIC STIMULUS FOR THE AMERICAN PEOPLE ACT OF 2008 -- (House of Representatives - January 29, 2008)

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Mr. NEAL of Massachusetts. Madam Speaker, I want to first congratulate the Speaker and Chairman Rangel and Chairman Frank for negotiating this economic stimulus bill which will provide relief to working families and businesses in these difficult times.

The bill provides $100 billion in tax relief to working families, targeting this relief to families that really need it. A family earning between 10 and $20,000 will see their taxes cut by 50 percent. For New England families facing rising energy bills, this is well-timed relief and cash in the hands of those most likely to use it to spur on economic growth.

Like others, I believe we can and will do more. But I'm a strong supporter of the legislation that's in front of us and urge its adoption.

Some have quibbled with the impact of this stimulus, but I believe this is how the Congress should respond in a troubled economy. Abe Lincoln noted that ``The legitimate object of government is to do for a community of people whatever they need to have done, but cannot do at all in their separate and individual capacities.''

Working families, businesses, homeowners, and investors are hurting. This quick infusion of cash to low- and middle-income families, to small businesses and large businesses where necessary, making capital purchases, will jump-start our economy in a quick and efficient way.

Is it perfect? No.

Is it possible? Yes.

Is there more work to be done? Certainly. We will come to that as well in late winter and early spring.

This is good work and the leadership should be commended. Mr. Rangel, Mr. Frank, and Speaker Pelosi all should be acknowledged for the work.

I thank our friend from Hartford, Connecticut (Mr. Larson) for giving me time.

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