[Congressional Record Volume 156, Number 29 (Wednesday, March 3, 2010)]
[House]
[Page H1032]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     CBO'S RECOVERY ACT ASSESSMENT

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute.)
  Mrs. MALONEY. Mr. Speaker, at a recent hearing of the Joint Economic 
Committee, the Director of the Congressional Budget Office, Douglas 
Elmendorf, testified that CBO's latest assessment of the Recovery Act 
found that it had increased our real GDP by as much as 3.5 percentage 
points, increased the number of people employed by between 1 million 
and 2.1 million people, and lowered the unemployment rate by as much as 
1.1 percent. In short, the stimulus spending bill worked, but we need 
to do more to grow jobs now.
  He also testified that one of the most powerful generators of job 
growth would be an employer tax credit for businesses that increased 
their payrolls similar to one I proposed in H.R. 4585 and to one 
Congress intends to send to the President. These historically difficult 
times and this growing, but fragile, economy cry out for us to take 
action, help create more private sector jobs, and get our economy 
working again for everyone.

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