Emergency Economic Stabilization Act Is Vital To Help America Get Back On The Path To Growth And Job Creation Today, the Bureau of Labor Statistics released new jobs figures for September. Nonfarm payroll employment decreased by 159,000 jobs in September and the unemployment rate remained at 6.1 percent.
The Senate version of this legislation added important provisions. This new version, in addition to addressing the financial crisis, protects millions of taxpayers from the Alternative Minimum Tax (AMT), extends tax incentives for businesses and tax relief for families and individuals, extends renewable energy tax credits, and increases federally insured deposits.
Our Economy Is Depending On Decisive Action By The Government In recent weeks, the Federal government has taken a series of measures to help promote stability in the overall economy. We have boosted confidence in money market mutual funds and acted to prevent major investors from intentionally driving down stocks for their own personal gain. But more action is needed. We must address the root cause behind much of the instability in our markets – the mortgage assets that have lost value during the housing decline.
Source: U.S. Department of Commerce
