[Congressional Record Volume 155, Number 37 (Tuesday, March 3, 2009)]
[House]
[Pages H2912-H2913]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1700
               BENEFITS OF THE ECONOMIC STIMULUS PACKAGE

  The SPEAKER pro tempore (Mrs. Dahlkemper). Under a previous order of 
the House, the gentlewoman from Texas (Ms. Jackson-Lee) is recognized 
for 5 minutes.
  Ms. JACKSON-LEE of Texas. Let me thank the Speaker for her leadership 
and the opportunity to address my colleagues on what I think is a very 
important topic.
  Of course, first I wish to wish my great State of Texas happy 
independence day, March 2, 2009, which was yesterday, and celebrate the 
courage of those fighters who declared their independence from Mexico. 
Texans are an independent bunch, but we are a patriotic bunch and we 
love this country,

[[Page H2913]]

and I believe it is important to address the leadership that sits just 
a few blocks away that is attempting to take this Nation to another 
level of economic empowerment and change.
  It is important, Madam Speaker, to articulate more clearly the 
purposes of the economic stimulus package and the bankruptcy bill that 
will come to this floor in just a couple of days. Both of those bills 
respond to the needs of the average working American. It is important 
to note that the economic stimulus package has no earmarks and it is to 
generate jobs and those jobs are to be in the private sector.
  Over the last 2 weeks, Madam Speaker, I have sat down in my school 
districts speaking to each superintendent asking them to establish an 
economic stimulus task force that would ensure that the dollars that 
would come through this stimulus package would be, first of all, used 
to educate our children; would be limited in its use for administrative 
costs; would be focusing on saving teachers' jobs or creating teachers' 
jobs; would focus on Title I; and would help modernize schools and hire 
contractors who would then hire people who are out of work in the 
private sector. School districts typically don't build or modernize 
their schools. Those are jobs, $10 billion in the stimulus package.
  Recently I have walked through unemployment offices to focus on 
getting job training dollars so that people could alter their careers 
and be able to be prepared for the 21st century workplace, such as 
being prepared for the green jobs that are also part of the economic 
stimulus package. Weatherization, $5 billion for weatherization of our 
buildings and homes both in the cold weather and the hot weather. Those 
are jobs, Madam Speaker, that have not been created before. They are 
not jobs in the government. They are jobs in the private sector.
  Madam Speaker, I went on to meet with the Texas Department of 
Transportation to ensure that contracts are shovel-ready; that new 
small businesses and minority businesses and women-owned businesses are 
being hired, that they are able to be proud of what they put on the Web 
site and that they actually do create jobs.
  Just yesterday, I met with the mayor of Houston, the fourth largest 
city in the Nation, and the department heads, seeking creatively how we 
can enhance and beautify distressed areas, depressed areas, both in 
rural and urban areas, which was the purpose of the President's desire.
  By the way, Madam Speaker, I can tell you that earmarks should not be 
labeled as being fraudulent. They should be transparent. They are not 
an added expenditure of dollars. They are simply allowing the people of 
the district, the State of Texas, the State of New York or Mississippi 
or Georgia or California to be able to assess where those moneys can be 
used more effectively. But we don't have any earmarks in the stimulus 
package.
  The bankruptcy bill, which has been much maligned in certain areas, 
and I am very glad we are coming together to think together, is really 
a bill that responds to the little person, the person who was 
responsible, the person who really feels that bankruptcy may in fact be 
a shameful thing to do, but are working every day trying to make ends 
meet. They are making their payments, but they are falling behind as 
they try to make those payments.
  What it does is it allows a judge to assess whether that person is 
able to more effectively keep their house if they are able to cram down 
the amount of the mortgage. But what happens, Madam Speaker, is that if 
that house is ultimately sold, any profit goes back to the lender. 
Where is the help for the little guy? Where is the help for the 
struggling homeowner and American who works every day? It is the 
bankruptcy court. That will not be a free ride.
  In addition, I hope to offer legislation that indicates that if a 
buyer was manipulated with an adjustable rate or predatory lending, 
that their missteps in their mortgage, that their faltering, does not 
impact their credit score, which then ends their ability to be part of 
the economic resurgence that will come about over the next couple of 
months and years as we begin to see the economic stimulus package work.
  This is not a tough task. I voted against the TARP originally. Money 
is being given to big banks. But what I believe is we have got to 
recapitalize our markets and restore our housing market.
  Madam Speaker, we are on the right path. Let's do it in unity. Let's 
not forgets the hard-working Americans who now need to have their day 
by passing the bankruptcy bill and making sure the stimulus package 
works.

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