WASHINGTON - The U.S. House of Representatives voted in strong bipartisan support for H.R. 5140, the Recovery Rebates and Economic Stimulus for the American People Act of 2007 today. Ways and Means Committee Chairman Charles B. Rangel (D-NY) issued the following remarks during consideration of H.R. 5140 on the House Floor:
"I want to thank Speaker Pelosi, the Republican Leadership and Secretary Paulson for their willingness to listen and discuss the critical issue of providing economic stimulus to working families to stem the current downturn. Their ability to come together in a bipartisan way should give great confidence to the American people that their government is capable of meeting its obligation to put aside partisanship during times of need.
"This is an historic package that focuses on those who have so often been left behind - in fact, this stimulus package will provide tax cuts to millions of families who work hard day after day, yet do not make enough to have income tax liability. While this package will provide critical assistance to people who are suffering economically, they were not selected out of any compassion -- indeed they were targeted because economists agree that they are most likely to spend this assistance directly into the economy.
"I submit to you, that we are talking about the heart of America, hardworking middle-class people who are now being targeted because they cannot take care of their families. They will spend the rebate to put food on their table, shoes on their kids’ feet and roofs over their heads, yet caution my colleagues against walking out of this House with pride on passage of this bill because there are too many families who find themselves in this predicament.
"It should be abundantly clear that, throughout negotiations on this package, we believed that the Senate was prepared to accept the agreement without change. It is now my understanding that the Senate Finance Committee will be marking up its own package and I assume that it will not deviate substantially from the package approved by the House. However, I want it to be abundantly clear that the House has fulfilled its obligation and if anything should impede the Senate from complying with the mandate the President set on the Congress, they should remember that they too have an obligation to make the type of compromises that will allow this package to move forward.
"Furthermore, I hope that, after we finish going through this bipartisan effort, we can find a way to reassure the American people that we will continue to provide economic relief without considering it stimulus, but because it is the right thing to do. No man or woman who works hard every day should be stigmatized because they can’t afford to take care of their families.
"So, I hope we can continue working in a bipartisan way to recognize that the current tax code, which is tilted toward the wealthy, did not work this time. Perhaps we can come together in bipartisan negotiations to bring a greater sense of equity to our tax laws so that hardworking families will have more disposable income to contribute to the economy of this great nation of ours."
