    [Public Papers of the Presidents of the United States: George W. Bush (2008, Book II)]
    [September 28, 2008]
    [Pages 1253-1254]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Congressional Action on Economic Stabilization Legislation
    September 28, 2008

        Today a bipartisan group of Members of Congress, working with my
    administration, reached agreement on economic rescue legislation that is
    urgently needed to address a crisis in our financial system that
    threatens the entire U.S. economy.
        I appreciate the leadership shown by Members on both sides of the
    aisle, who came together to write a very good bill. This bill provides
    the necessary tools and funding to help protect our economy against a
    system-wide breakdown. The bill will help allow access to credit so
    American families can meet their daily needs and American businesses can
    make purchases, ship goods, and meet their payrolls. And this plan sends
    a strong signal to markets around the world that the United States is
    serious about restoring confidence and stability to our financial
    system. Without this rescue plan, the costs to the American economy
    could be disastrous.

    [[Page 1254]]

        Many Members of Congress contributed important ideas to improve the
    legislation my administration proposed. I appreciate the negotiators
    considering those ideas and incorporating them in this agreement.
        Members of Congress will vote on this legislation soon. This is a
    difficult vote, but with the improvements made to the bill, I am
    confident Congress will do what is best for our economy by approving
    this legislation promptly.

    Note: The statement referred to H.R. 3997.