[Congressional Record (Bound Edition), Volume 154 (2008), Part 1]
[House]
[Page 438]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TAX REBATE RELIEF

  (Mr. BISHOP of New York asked and was given permission to address the 
House for 1 minute.)
  Mr. BISHOP of New York. Mr. Speaker, it is all too rare when we in 
the majority and the President arrive at a consensus. So it's welcome 
news that we agree on relief Americans need in today's economy should 
come in the form of a stimulus bill. Targeted tax breaks and short-term 
measures to help the middle class can salvage our economy from 
plummeting home values, savings and market conditions.
  We should insist upon including expanded unemployment benefits and 
food stamps, in addition to tax rebates. These benefits will be spent 
immediately by those who need our help most in this economy.
  In fact, for every dollar spent by the government on food stamps, 
there is a $1.60 return to the economy; and for every dollar spent on 
unemployment benefits, the return is $1.90.
  The tax rebate should be targeted to the middle class and include 
those low-income workers who didn't earn enough to pay income taxes but 
still pay into Medicare and Social Security through payroll taxes 
withheld from their paychecks.
  This is the prescription middle-class Americans need to cure the ills 
of today's economy. Mr. Speaker, I strongly encourage my colleagues to 
do their part to help us towards that end.

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