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Bush Calls on Congress to Pass Stimulus Package
January 24, 2008 3:01 PM
ABC News' Jennifer Duck and Dean Norland Report: Moments after a bi-partisan economic stimulus package was announced on Capitol Hill, President George Bush made a televised statement calling the growth package "an effective, robust and temporary set of incentives."
"This package has the right set of policies and is the right size," Bush said Thursday.
The president acknowledged Americans are concerned about the economic future but he explained the economy is "structurally sound but it is dealing with short-term disruptions in the housing market and the impact of higher energy prices."
"The economy is strong, and it is dynamic and it is resilient," Bush said.
The stimulus package would give refunds of $600 to $1200 to most Americans who pay taxes and additional money for families with children. Also, employed Americans who make at least $3,000 but don't pay taxes would receive $300 rebates.
Lawmakers believe small businesses will also benefit from the growth package in write-offs for additional purchases of new equipment.
House Speaker Nancy Pelosi agreed that the plan will stimulate the economy, and if it does not, said there will be more to come.
“Should our economy worsen, we will not hesitate to advance additional legislation,” the speaker told reporters at a news conference at the Capitol on Thursday.
She said it will put money in the hands of working Americans and should be acted on quickly. A fact sheet released by the speaker’s office predicted the bill would provide tax relief by this spring.
“I believe that the package that we are putting forth deserves the support of members of Congress and we will bring it to the floor at the earliest date so those rebate checks can be in the mail,” the speaker said.
But Pelosi also expressed some reservations about the deal, saying that she and House Ways and Means Committee Chairman Charles Rangel were not completely satisfied, but refused to elaborate.
House Minority Leader John Boehner, also present at the press conference, expressed his support for the proposal.
“The beauty of this package is that it is simple, it is clean, it is neat and it will get the money back out into the American economy as quickly as possible.” Boehner said.
He also predicted broad, bi-partisan support for the bill in the House, which will consider it first, before it moves to the Senate.
Since last Friday, Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi, R-Calif, and Minority Leader John Boehner, R-Ohio, have been working on the deal that will total $150 billion.
January 24, 2008 in Romney, Mitt, Vote 2008: Democrats | Permalink | User Comments (41)
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What happened to $800 per person and $1600 per couple?
What ever is allotted will be going to pay off bills. This isn't a gift, it's our tax money that the politicans squander.
Posted by: Leslie | Jan 24, 2008 3:47:29 PM
Remember, if it's too good to be true, it probably is.
Posted by: cindy | Jan 24, 2008 3:51:37 PM
Bush is the Man!!!!!!
Thank you President Bush.
On a different note...
---- Hillary working for Wal Mart ----
IMO When Sam Walton died and his son took over and they dropped the Made In the USA slogan. I'm sure they needed her advice on importing non USA goods from China.
Posted by: Democrat Ed' | Jan 24, 2008 3:51:47 PM
bush is so incompetent and evil it numbs the mind.
Posted by: ac | Jan 24, 2008 3:54:42 PM
This $600 will just come short of covering the federal taxes I owe this year. What a joke. These guys should all be tried for theft from the tax payers. How about getting rid of all the pork and reducing our taxes, you morons.
Posted by: Mitch | Jan 24, 2008 3:57:06 PM
Anyone complaining about money they owe in federal taxes this year, needs to submit a new W4, as your incompetence in the field of withholdings is unbelievable. Oh, and on a similar note, lets get paid our gross paycheck and then write a quarterly check for each of our tax liability. Then we'll see a tax revolution!
Posted by: JLB | Jan 24, 2008 4:07:16 PM
So another break for those who have kids!! Now what about the rest of america???
Posted by: Robert | Jan 24, 2008 4:08:58 PM
JLB. Glad I'm not complaining. Whether you have enough withheld, or end up having to pay, it is still the same. You pay what you owe according to what the goverment needs to cover it's out of control pork projects and wasteful spending..
Posted by: Mitch | Jan 24, 2008 4:14:35 PM
We are hurting, not helping our country by doing this.
The United States is in trouble because we've allowed our jobs to leave our country. Greed from banks churning risky mortgage loans, corporations selling out communities(Greenville Michigan), and citizens thinking that the 2.9% mortgage teaser to buy the McMansion has left our country weak and vulnerable.
I am stunned to think that our country will borrow 150 billion dollars, and add it to the 9 trillion dollars in debt to speed up the economy. Maybe it would have worked in the 1970's when we actually could earn a living in a factory... go ahead and try to find something that is not manufactured in China or Mexico in your local Supercenter.
The most damning aspect of this is that our children and grandchildren are going to be paying our tab well after the shopping spree is over. This package makes me ill.
Posted by: Dan | Jan 24, 2008 4:24:14 PM
This last bit of rebate business by congress is the best evidence so far that our government in washington is totally out of whack. We are well into the decline and fall of the america we knew and loved.
Posted by: HP3 | Jan 24, 2008 4:26:26 PM
This fool is an absolute joke...Why don't he just shut up for the next 359 days. He is lying again...His lips are moving..
Posted by: Joe MUrphy | Jan 24, 2008 6:20:39 PM
Bush is a liar,a criminal and totally delussional. Anyone who supports him has a reality problem for sure. Bush has done more harm to America then any president ever! Bush and his band of criminals need to be behind bars. Bush supporters are the worst Americans of all time. Bush is worst president of all time!
Posted by: AJ | Jan 24, 2008 6:45:03 PM
Whatever this sociopathic dim-witted fool says, just assume that the truth is somewhere in the opposite direction. We should jail the incompetent idiot for impersonating a president. Maybe we need to institute an honesty and IQ test prior to inauguration...
Posted by: DavidM | Jan 24, 2008 6:46:00 PM
He also insisted that Iraq had weapons of mass destruction.
Posted by: eric donovan | Jan 24, 2008 7:16:49 PM
Fools' Gold!!!
Posted by: Maria | Jan 24, 2008 8:01:28 PM
As expected its a tax cut for the wealthy disguised as a consumer side tax cut.
The democrats have long known for years the only stimulus package that works is a low to middle class tax cut, but GOP nutjobs are against all consumer side tax cuts and prefer to adhere to the failed Reaganite "trickle-down" tax cuts.
I remember the Reagan Regime, I didn't appreciate getting trickled on by the rich, and if I remember right my tax cut was a whopping $53 back then. Thanks Ronnie.
Posted by: Rick Cain | Jan 25, 2008 1:13:12 AM
Looks like Bush and the Neocons have led Pelosi down the garden path again. Cash and tax cuts for businesses that are doing well in a "resilient," "fundamentally strong economy" and nothing for poor seniors living on Soc Sec who actually need the money. Note to, Nancy and Reid-the expected sop to the poor of more food stamps so seniors and the other poor can digest your sell-out on a fuller stomach will not cut it. We can stay home on election day just as easily as the voters the Neocons are abusing in the Repub party!
Posted by: Luke | Jan 25, 2008 10:41:01 AM
Bush is so disconnected from reality. He should be committed.... after he serves time in prison for crimes against humanity.
Posted by: RW | Jan 25, 2008 11:36:40 AM
To you in the Republican Party, Independents, and YOUNG VISIONARIES, who rallied around Bush as "One of Us," "Rah, Rah, ObaMa, Uniter": You ALL stood by and watched THIS ADMINSTRATION lie, cheat, cover-up, withhold, pull every dirty trick (illegal) imaginable to mislead the American People and keep the truth from coming out; You called those of us Americans, screaming in horror, “unpatriotic" for questioning their actions of holding "secret meetings" with oil industry, refusing to account to the GAO of the Federal Government, for taking us into a STUPID war based soley on Corporate Greed and Cheney's KNOWN relationships with Haliburton and BiG Oil Companies Biggest benefators of the war at OUR EXPENSE; AND, get us into trillions of dollars in debt...and a war with nations that may never be settled... DON'T WE ALL FEEL SAFE, NOW???...but you want to “BRAG” about the Party’s efforts to TRY to impeach a President who orchestrated solving a trillion dollar deficit and gave America a BALANCED BUDGET - seen THE FIRST TIME IN MANY OF OUR LIFETIMES.... for being “immoral" or "lying" (to protect his family from humiliation). How spineless and hypocritical can you get!
Posted by: dverot | Jan 25, 2008 1:17:29 PM
Is there anybody that still listens to what this man says?
Posted by: Eric | Jan 25, 2008 3:24:04 PM
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