Washington, D.C.   -  Tonight, Congress cleared a bipartisan stimulus package to jumpstart the ailing American economy. U.S. Rep. Phil English (R-Pa.), the lead Republican on the Select Revenue Measures Subcommittee, joined his colleagues on the floor in support of the measure:

FLOOR STATEMENT ON THE STATE OF THE AMERICAN ECONOMY
U.S. REPRESENTATIVE PHIL ENGLISH (R-PA)
February 7, 2008
(Remarks as Prepared for Delivery)
 

“Madam Speaker, tonight the House has an opportunity to give American working families and employers the shot-in-the-arm they need to weather this economic storm.

“To be sure, the heart of this bipartisan plan focuses on putting more money back into the hands of America’s hard-working, middle-class families. Through tax rebates and a bump in the child tax credit, this agreement will quickly inject a cash infusion into the economy to assist families with skyrocketing food and energy costs.

“Importantly, this legislation will go a step further than the original compact and ensure that veterans and seniors receive additional financial support to boost their buying power.

“The Housing provisions to increase limits on loans backed by the FHA and GSEs, will, without doubt, give reprieve to families in the face of financial ruin from the sub-prime mortgage crisis, which has crippled the momentum of a once booming housing market. 

“Finally, and importantly, by rewarding businesses for making capital investments here at home, we will expand investment, create new jobs and increase our country’s competitive position in the world

“Madam Speaker, in my view, this is precisely the right tonic at exactly the right time.  I urge my colleagues to vote for working families, vote for jobs and vote to keep the economy growing.”

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