Hoyer Statement on Analysis of American Recovery and Reinvestment Act

For Immediate Release:

January 21, 2009

Contact:Stacey Farnen Bernards
(202) 225 - 3130

WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after Mark Zandi, chief economist for Moody’s Economy.com and former advisor to Senator John McCain’s presidential campaign, issued an analysis of the American Recovery and Reinvestment Act, being marked up by the House Appropriations Committee today:
 
“Mark Zandi’s analysis of the American Recovery and Reinvestment Act shows he believes that this package will provide the boost our economy needs to begin recovering from this recession.  According to Zandi, the recovery plan will succeed in its goal of creating and saving 4 million jobs and keeping the unemployment rate lower than it would be if we did nothing.  The recovery plan will also provide economic stability in the longer term by increasing infrastructure investment to keep our economy growing in the future.
 
“The need for swift action is clear as more people file for unemployment and millions of families struggle to make ends meet. The Appropriations, Ways and Means, and Energy and Commerce Committees are holding markups this week to review the Recovery and Reinvestment Act, and I expect the House to act soon in order to send President Obama a final bill before President’s Day.”
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