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Contact Congressman Hinchey
Congressman Maurice Hinchey, Proudly Representing the 22nd District of New York
Issues and Legislation
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The Need for a New Economic Stimulus Bill That Will Benefit Low-Income and Middle Class Americans

Congressman Maurice Hinchey believes it is absolutely critical that Congress invests in low-income and middle class Americans to stimulate the economy that will create real growth and new jobs. One of the reasons Congressman Hinchey opposed the Wall Street bailout bill was because it failed to include an economic stimulus component that would have provided much-needed assistance to low-income and middle class Americans and instead focused solely on bailing out greedy Wall Street executives.

Congressman Hinchey was pleased to help the House pass an economic stimulus bill last month, but unfortunately President Bush threatened to veto the bill and the measure was blocked by the president's allies in the Senate. The measure would have grown the economy and created jobs by making investments in our nation's infrastructure -- transportation systems, schools, and housing structures. The measure extended unemployment benefits, expanded food stamp assistance, and ensured that Americans don't lose health coverage as a result of state budget crises. Congressman Hinchey is working very hard to bring another economic stimulus bill to the House floor in November. He is hopeful that President Bush and his allies in the Senate will see that the Wall Street bailout is not doing anything to create jobs and spur growth among the working and middle class and that this time they will approve an economic stimulus bill.

Federal Reserve Chairman Bernanke is finally agreeing with Congressman Hinchey and the Democratic leadership in Congress that an economic stimulus plan is needed and virtually every single economist who has testified before Congress has made it very clear that an economic stimulus bill is needed to spark this economy and put people back to work. Congressman Hinchey believes we absolutely need to provide tax relief to low-income and middle class Americans, but he also believes that tax cuts alone are not going to repair our economy and create the growth we so desperately need. The congressman said that government could not spend money better than by investing directly in the American people. An economic stimulus bill would create jobs by making investments in infrastructure projects that build and repair roads, bridges, schools, and hospitals. The bill would also extend unemployment benefits for those who are struggling to find work in this rough economy, ensure that Americans don't lose health coverage as a result of state budget crises, and expand food stamps in order to make sure that no family ever has to go hungry.

Leading economists also indicate that an economic stimulus bill would create more economic growth than the bill itself costs. For every $1 billion we invest in transportation infrastructure, we create 35,000 jobs and up to $6 billion in gross domestic product. Every $1 spent on food stamp benefits generates $1.73 in economic activity. Every $1 spent on unemployment benefits generates $1.64 in new economic demand. Every $1 in general aid to state government generates $1.36 in economic activity.

Congressman Hinchey will be fighting aggressively to pass a significant economic stimulus bill in Congress sometime in November. Low-income and middle class Americans are in desperate need of some help and Congressman Hinchey intends to work with his colleagues to provide it to them.

To read more about Congressman Hinchey's recent efforts to help grow the economy, create jobs, and help the working and middle class get through these tough economic times please read the following:

Hinchey Statement on House Passage of Revised Bailout Bill (October 3, 2008)
Hinchey Gives Update On Financial Bailout Bill & Various Other Important Bills Passed In Congress This Week (September 30, 2008)
Hinchey Statement on Failure of Financial Bailout Bill (September 29, 2008)
Hinchey Gives Update on Financial Rescue Negotiations & Comments on Passage of Economic Stimulus Bill in the House (September 26, 2008)
Hinchey Helps House Pass Credit Cardholders' Bill of Rights (September 23, 2008)
Hinchey To Question Federal Reserve Chairman Bernanke On Bush Administration's Proposed Wall Street Bailout (September 23, 2008)
Hinchey Discusses Volatile Economic Situation; Highlights Immediate Congressional Efforts To Stabilize & Improve Economy (September 22, 2008)
Hinchey Helps House Pass Bill To Extend Unemployment Benefits (June 12, 2008)
Hinchey to Chair Joint Economic Committee Hearing on Employment (June 5, 2008)
Hinchey Encourages Retirees, Veterans, Low-Income Workers & Others Who May Not Normally File Income Tax Returns To Attend IRS-Sponsored Workshops Or Call Toll Free On Saturday, March 29 For Assistance In Filing For Economic Stimulus Rebate (March 27, 2008)
Hinchey Challenges Treasury Secretary Over Bush Administration's Use of "Weapons of Mass Economic Destruction" (March 5, 2008)
Hinchey Statement on Final Passage of Economic Stimulus Bill (February 7, 2008)
Hinchey Helps House Pass Bipartisan Economic Stimulus Package (January 29, 2008)

 

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