[Congressional Record Volume 147, Number 144 (Thursday, October 25, 2001)]
[Extensions of Remarks]
[Pages E1925-E1926]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               ECONOMIC SECURITY AND RECOVERY ACT OF 2001

                                 ______
                                 

                               speech of

                          HON. HEATHER WILSON

                             of new mexico

                    in the house of representatives

                      Wednesday, October 24, 2001

  Mrs. WILSON. Mr. Speaker, ``let's get to work . . .''
  I believe that the Economic Security and Recovery Act of 2001 is a 
growth package that will help put Americans and New Mexicans back to 
work, and it's what we need today. We need to provide help to 
individuals who are feeling the crunch and we need to help the 
businesses who employ them get back on their feet.
  People in New Mexico have felt the effects of our continued economic 
slowdown. At least two of the phone company call centers in Albuquerque 
have laid off good, solid employees, and southern New Mexico lost 650 
jobs in the mining industry just today. EMCORE Corp., a high-tech 
manufacturing company, also announced layoffs earlier this week. The 
travel and hospitality industries say they've seen a decline in people 
traveling and eating out.
  Our economy has been drastically impacted by the evil that struck 
America on September 11. Both the people who create jobs, and the 
individuals who form the backbone of our economy, have been affected. 
And they will continue to feel the pain of a slowed economy if the 
Congress doesn't act quickly. We need to do everything we can to keep 
our economy strong and help middle America, and this stimulus package 
does that. This bill addresses the very human needs we have in New 
Mexico, in New York, and throughout our country.
  Working families will get immediate help by advancing the effective 
date of the 25 percent marginal rate cut from last spring's relief 
bill.
  Individuals who received a partial rebate will have their payments 
topped off to $300 for individuals and $600 for couples. People who 
filed a tax return in 2000 but weren't eligible for a rebate will now 
get a payment.
  And there will be help for people who have lost their jobs in the 
wake of the September 11th attacks. States with a spike in unemployment 
rates will be given the flexibility to supplement current unemployment 
and health benefits. We'll channel $3 billion for health benefits, and 
$9 billion for cash benefits for people who lose their jobs.
  It's estimated that my home state of New Mexico will receive $45 
million in unemployment cash assistance for people hurt by today's 
lagging economy, and our state will have the flexibility to decide 
exactly how to use these dollars to really help New Mexicans.
  Nineteen million dollars for New Mexico will help with health 
insurance needs for people who lose their jobs. This could include 
things like paying Cobra premiums or expanding Medicaid.
  We also offer incentives for employers to create jobs, spur 
innovation, and invest in our country's future.
  While this bill doesn't contain everything that I would like to see, 
and contains some things that I question, I think it is important to 
move it forward. There are some elements of the companion legislation 
that the Senate is working on that I am hopeful will be included in a 
conference on this economic stimulus package. I would like to see the 
final bill that we send to the President focused more on displaced 
workers, and the needs of their families, including health care.
  From my perspective, the House bill is tilted toward large 
corporations and I would like to see the final bill we pass and send to 
the President address the issues faced by small and mid-sized 
businesses who provide the bulk of the jobs in New Mexico and this 
country.
  The entire focus of the final bill we send to the President must be 
helping people who have been hurt by the slowdown and providing a spark 
to get us back to growth. Now, more than ever, America's economy needs 
a boost. Let's get to work.

[[Page E1926]]



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