[Congressional Record Volume 154, Number 19 (Wednesday, February 6, 2008)]
[Extensions of Remarks]
[Page E122]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 RECOVERY REBATES AND ECONOMIC STIMULUS FOR THE AMERICAN PEOPLE ACT OF 
                                  2008

                                 ______
                                 

                               speech of

                             HON. TOM UDALL

                             of new mexico

                    in the house of representatives

                       Tuesday, January 29, 2008

  Mr. UDALL of New Mexico. Madam Speaker, a lot of brilliant economists 
have spent a lot of time over the last few weeks telling the American 
people what we already know: our economy needs help. The debate goes on 
over whether today's economic conditions will become an official 
recession, but most people aren't interested in official definitions. 
We want help now.
  Fortunately, members of the New Direction Congress, meeting on a 
bipartisan basis, have developed an economic stimulus package that will 
get America moving again.
  There's a lot to like about the proposed stimulus package.
  The package provides support immediately. American families will 
receive help by June, in time to stop America's economic slide before 
we find ourselves mired in recession. This timely action is the result 
of a feeling in Congress that getting things done for the American 
people is more important than scoring political points.
  The package will put money in the hands of working families who need 
it most. By helping families too poor to pay income tax, this proposal 
shows both compassion and common sense. We know that poor families are 
more likely to spend their rebate checks immediately, and that means 
more money flowing into our economy more rapidly.
  And, finally, the package will not purchase short term growth at the 
expense of long term prosperity. This legislation does what must be 
done, but, more importantly, it does no more than is necessary. It 
contains no giveaways to any interest group, no pork barrel spending 
and no rushed changes in our tax code. The bill provides targeted, 
temporary stimulus. As a result, it will secure our present without 
burdening our future with debt.
  But the package that we pass today is not perfect.
  We have helped millions of families, but too many seniors still need 
our support. We have provided relief to millions of workers, but those 
who have seen their jobs disappear still face an uncertain future they 
did nothing to earn and can do little to change. We have provided 
temporary relief to millions of taxpayers, but we must renew the clean 
energy tax credits that give us hope for a stronger national economy 
and a more sustainable world.
  Our work is not over.
  We should celebrate today's accomplishment, but we must recognize 
that it is a first step, not a final one. Let's take the bipartisan 
spirit that has been kindled in the House and use it to do the work 
that remains to be done.

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