WASHINGTON,
D.C. – Chief Deputy Whip Diana DeGette (D-C0) today issued the
following statement today after the Federal Reserve Board issued an
emergency rate cut of a key interest rate by 3/4 of a percentage point:
“As our economic outlook worsens, consumers are struggling with
skyrocketing gas and home heating costs, increases in college tuition,
and rising health care costs. The emergency interest rate cut was a
necessary step in the right direction to restore public confidence in
the market and revitalize our economy.
“The Democratic
Congress is working in a bipartisan way with the Bush Administration to
develop a timely, targeted, and temporary fiscal stimulus plan that
will provide relief to the American consumer by putting more money into
their hands. This stimulus package will help strengthen our economy by
encouraging low to middle-class families to reinvest in the economy
providing a much needed boost.”