Chairman Miller Praises House for Giving Final Approval to Economic Stimulus Package

WASHINGTON, DC -- The U.S. House of Representatives gave final approval this evening to legislation to boost the U.S. economy by, among other things, sending rebate checks to more than 130 million American families, including 35 million low-income families who were not included in past economic stimulus measures, millions of seniors, and 250,000 disabled veterans.

U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee, praised the Congress for acting quickly to send an economic stimulus package to the President’s desk. He issued the following statement this evening:

“The American people are deeply concerned that the economy is seriously off on the wrong track, and with good reason: Paychecks were shrinking even before the credit crisis began; foreclosure signs are sprouting up in front yards all over the country; and last month, for the first time in over four years, the U.S. economy lost jobs.

“Clearly, we have to take sustained action to get the economy back on track and make it work better for all Americans, and this stimulus package is an important first step. On a bipartisan basis, Congress has acted swiftly to give the economy a boost by putting money into the hands of low- and middle-income families who will spend it quickly. This will help to create 500,000 jobs this year.

“This legislation also increases loan limits for single family houses from Fannie Mae and Freddie Mac from $417,000 to $729,750 for 2008. This increased loan limit will enable homeowners with larger mortgages to refinance, lower their monthly payments, and avoid foreclosure. In my home district in the San Francisco Bay area, this change will provide critical help to untold numbers of families who are struggling to hold onto their homes.

“We have a responsibility to act aggressively to limit the economic trouble that we’re now facing. A critical step we must take as soon as possible is to extend unemployment insurance, which helps workers who have lost their jobs through no fault of their own and are searching for new employment. American workers are facing an uncertain future, and we must do everything we can to help them weather it.”

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