WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today on the American Recovery and Reinvestment Bill:
“In the midst of a recession that has already cost our economy 2.6 million jobs, the need for swift action is clear. The American Recovery and Reinvestment Bill unveiled today will create jobs and strengthen our economy both now and in the future.
“The depth of our economic crisis means that the consequences of inaction are far worse, starting with double digit unemployment and even deeper deficits. A recovery package is needed to stop our economy’s downward spiral so that we may then address the underlying financial crisis. Once our economy stabilizes, we must renew our pledge of fiscal responsibility and make the tough choices necessary to rein in deficits and restore balanced budgets.
“Finally, the process is not over today. Members of Congress will continue to work on crafting the best package possible, including holding markups on this legislation next week, and I expect to bring the final House bill to the Floor for a vote the following week. I look forward to working further on this legislation that is critical to strengthening our economy and helping American families struggling under this recession.”