WASHINGTON - Ways and Means Committee Chairman Charles B. Rangel (D-NY) issued the following statement on continuing discussions and recent media reports regarding an economic stimulus package:
"To the extent that the economic stimulus package has not yet been written, everything remains on the table. However, I would like to respond to the suggestion by Republican leaders that there will be a ‘vigorous argument’ to prevent the stimulus from reaching hardworking families who live paycheck to paycheck, contribute to Social Security and Medicare, or who may have recently lost their jobs. Any ‘argument’ on this issue will be met with equally vigorous discussion of the inclusion of tax incentives for businesses that have been proven by economists to have a less-than-timely return on investment.
"Congressional leaders remain committed to reaching, and passing, a bipartisan stimulus package, but we must follow the guidance of so many economists who have said -- with great clarity -- that this package must put money back into the hands of the middle- and lower-income families who will then spend it directly into our economy. Following these economic guidelines, it is clear that we should not limit our focus merely to families with income tax liability. We must also turn to those who are hurt the most during an economic downturn and whose contributions to employment taxes are so often forgotten. I sincerely hope that the urgency of this issue will help lawmakers from both parties to put aside ideological differences for the good of the nation and our economy."
