Economic Stimulus Act Of 2008
Madam Speaker, I rise today to express my appreciation to the House Democratic and the Republican leadership and to our colleagues in the Senate for the bipartisan effort that has produced timely, targeted, and temporary legislation to…
Madam Speaker, I rise today to express my appreciation to the House Democratic and the Republican leadership and to our colleagues in the Senate for the bipartisan effort that has produced timely, targeted, and temporary legislation to stimulate our Nation's slowing economy. I am also pleased that the legislation we are about to consider ensures that our Nation's senior citizens and disabled veterans are not left out of this worthwhile package.
Because of my concerns that the bill we considered last week did not include the low-income seniors and the disabled, I led the effort in the House to ensure that those who depend entirely on their Social Security checks were included in the final version of this legislation. I am very pleased that the Senate agreed and expanded the economic stimulus package to provide these Americans with much-needed relief. I urge my colleagues in the House to do the same.
Our Nation's seniors and disabled veterans are facing difficult economic times. For years, these men and women have been forced to survive on less and less as their costs continue to increase and their incomes remain the same. These Americans need cash rebates just as much as the individuals originally included in the stimulus package.
I am also pleased to see that the legislation we are about to vote on includes language that would ensure that illegal immigrants do not receive cash benefits that should only go to those who rightfully deserve it. This language mirrors legislation that I introduced in the House today.
Finally, the bill before us today contains an important provision that I helped to craft as the chairman of the Subcommittee of Capital Markets, Insurance and Government-Sponsored Enterprises. This reform will temporarily increase the conforming loan limits of Fannie Mae and Freddie Mac to enhance the liquidity of our mortgage markets. I support this short-term change.
Madam Speaker, once again, I wish to applaud the efforts of both the Members of the House and the Members of the Senate in crafting legislation that will spur our economy, provide rebates to those that need them most, and ensure that those ineligible for Federal benefits do not receive them.
Further, Madam Speaker, I have great pride today that the Congress of the United States could bring this most important legislation in this very short time in a very bipartisan way, and we should all have that pride as we vote on this package today.