Pelosi: Economic Stimulus Package a Bipartisan Victory for Job Creation and for the American People

Pelosi: Economic Stimulus Package a Bipartisan Victory for Job Creation and for the American People

Thursday, February 7, 2008

Contact:Brendan Daly/Nadeam Elshami, 202-226-7616

Washington, D.C. â€" Speaker Nancy Pelosi issued the following statement tonight after the House voted 380 to 34 to pass a $152 billion bipartisan economic stimulus package, which the Senate passed earlier today by a vote of 81 to 16. The bill will now go to the President for his signature into law.

"I want to thank Leader Reid, Leader Boehner, Leader McConnell and Secretary Paulson for their outstanding efforts to pass this bill in record time. This is an enormous, bipartisan victory for job creation, for our economy, and for the American people.

"By working together across the aisle and across the Capitol, we are sending the President a stimulus package that is timely, targeted, and temporary.

"This is crucial part of our jobs agenda for America. It will help get our economy back on track and help families who are struggling with the high cost of energy, housing, health care, and groceries.

"Because of our actions, more than 100 million families, seniors and veterans in America will receive recovery rebates.

"For the first time, tens of millions of low-income working people who have been excluded from past stimulus laws, will benefit from recovery rebates and the child tax credit.

"The typical American family with two children will receive a rebate of $1,800. Seniors living alone on their Social Security income, or disabled veterans, will also receive a recovery rebate of as much as $300 each.

"Businesses will receive a tax cut to make immediate, new investments to create American jobs.

"The package also gives families a second chance at the American dream of homeownership by helping them refinance their mortgages and avoid foreclosure.

"By putting together a progressive stimulus package â€" one that helps the middle class and those who aspire to it â€" we are charting a New Direction for our country that bolsters our economy and boosts job creation.

"This is the right plan at the right time to get our economy moving again, to strengthen the middle class, to inject demand into the economy and to create jobs.”