Emergency Economic Stabilization Act of 2008

Floor Speech

EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 -- (House of Representatives - September 29, 2008)

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Ms. DeLAURO. Our first goal as Members of Congress is to rescue the economy, get it moving again, and make sure the middle class and small businesses get on their feet.

I hate that near criminal mismanagement of our economy and near criminal contempt for our values has forced us to act today. Today's financial crisis could lead to an economic meltdown unseen since the Great Depression, and I have a responsibility to avert it in the interest of the country, though I know it will be unpopular.

For too long, the policies of this administration and the previous majority in Congress put middle class families at risk. I am under no illusions about how we got here. And I act today not to help the banks, but to help hardworking, struggling middle class Americans, small business people.

If we do not act, unemployment will rise, small businesses will not meet payroll, and a credit freeze closes the door on families who need loans to pay for schools, cars and housing.

The administration offered a plan; it was unacceptable. This legislation, while imperfect, offers a different approach. It should be coupled with investing in job-creating infrastructure, new green jobs, and measures that give consumers more income.

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