WASHINGTON - Ways and Means Committee Chairman Charles B. Rangel (D-NY) issued the following response to the recent announcement that the U.S. Treasury will begin sending economic stimulus checks to eligible households next week:
"I am proud of our unity and our ability to move in a timely fashion to stimulate the economy, but I am also ashamed that we have a system in place that mis-distributes wealth and keeps the middle class from affording their basic needs.
"Look at where the checks are going - they’re not going to the poor - the hopeless and homeless, because they’re not in the system. They’re not going to the rich, who wouldn’t know if they got a check in the first place. They’re going to families who considered themselves ‘middle-class’ or were breaking their backs to become ‘middle-class.’
"Why isn’t there outrage in America that so many families have been targeted for a rebate check, not because the Government has compassion for their situation, but because we recognized that these millions of folks have no choice but to spend the check back into the economy? What happened to the concept of shared prosperity that propelled our nation to the height of innovation and success in recent decades?
"Did we do the right thing in providing the check to keep the downturn from getting worse? Yes - but we need to make some fundamental changes to avoid returning to that point where we need a stimulus check again soon.
"The question we need to ask is - how do we invest in American workers to protect and strengthen the middle class?
"The middle class is the backbone of our economy. For those who have pulled themselves up into the middle class as I did, it is the joy and dignity of owning the house that you never thought possible, the joy of realizing your dream.
"But when you see it start to crumble through no fault of your own - when you can’t afford groceries, or to drive your car, or to see the doctor to stay healthy - it is the pain of having that dream ripped away even though you’re doing everything within your power to keep it alive.
"When there are millions of families whose dreams are shattering - we need to ask: how do we feel about America and its future?
"We need to stop perpetuating a system that fails to reward hardworking families."
While the April 15 deadline for filing tax returns or requesting an extension has passed, retirees, disabled veterans and others who normally do not file a tax return have until October 15 to file a 2007 tax return to receive an economic stimulus payment.
People who have no tax filing requirement but have at least $3,000 in qualifying income should file a simple Form 1040A. Qualifying income includes any combination of earned income, nontaxable combat pay as well as certain payments from Social Security, Veterans Affairs and Railroad Retirement. Forms, including the electronic Free File system, are available at www.irs.gov.
