[Congressional Record Volume 154, Number 20 (Thursday, February 7, 2008)]
[Extensions of Remarks]
[Page E148]
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. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                       Tuesday, January 29, 2008

  Ms. McCOLLUM of Minnesota. Madam Speaker, I rise in support of the 
Recovery Rebates and Economic Stimulus for the American People Act, and 
to commend Speaker Pelosi and Minority Leader Boehner for their 
bipartisan, timely action to get our economy moving.
  In Minnesota, median household income has decreased 6.8 percent since 
2000, job growth is lagging, and families are being squeezed by 
increasing gas, health care and education costs. While the cost of the 
Iraq war has grown to $36,900 per Minnesota household, over 400,000 
Minnesotans live in poverty, families are losing their homes, and a 
growing number are uninsured.
  This bill provides a recovery rebate check for 117 million families 
to help with rising costs and reinvigorate the economy. These rebates 
are targeted to middle-income Americans and additional assistance is 
provided for families with children. In Minnesota, the average rebate 
will be $952 and over 2 million families will benefit from this tax 
relief. H.R. 5140 also provides tax incentives to small businesses to 
help create jobs, and it increases access to affordable refinancing 
opportunities to help families keep their homes.
  H.R. 5140 is timely, targeted and temporary. While enactment of this 
package will give the economy a needed boost, it is not the end of our 
efforts. Congress needs to have a serious discussion about unemployment 
benefits, food stamps and aid to states facing deficits. And in order 
to truly grow our economy we need to invest in our infrastructure, 
reduce our dependence on foreign oil, educate our children, address the 
health care crisis and end the war in Iraq.
  There are significant challenges facing this country, and I am 
pleased that all parties were able to work together to put together 
this positive first step. I urge my colleagues to take real action 
today and to support H.R. 5140.

                          ____________________