Congressman Chris Van Hollen (D-MD) today released the following statement:
“I am gratified that the Congress has acted with speed and purpose on this important bipartisan stimulus legislation, which will provide tax relief to more than 130 million American families. Moreover, as called for in my earlier statement, I am particularly pleased that this final package extends relief to 20 million additional seniors and 250,000 disabled veterans we were not able to include in the original House bill.
The rebates of up to $600 for individuals and $1200 for joint filers, paired with the $300 per child credit, will undoubtedly help families struggling with higher food, energy and health care costs. The business incentives in this package should bring additional capital spending into the current year. And the increased loan limits at Fannie Mae, Freddie Mac and the Federal Housing Authority (FHA) will provide needed liquidity to the mortgage market and assist families at risk of foreclosure.
In total, this bill will pump over $150 billion into the economy over the coming months to mitigate the downturn we are currently experiencing. If additional measures prove necessary — including an extension of unemployment benefits, food stamps, low-income heating assistance or aid to states and localities — we will stand ready to act.”