Washington, D.C. – Majority Leader Steny Hoyer released the following statement after the President signed the bipartisan Recovery Rebates and Economic Stimulus for the American People Act. Hoyer attended the signing ceremony today at the White House.
“I am very pleased that the President has signed the bipartisan economic stimulus bill into law. The enacted stimulus plan is the product of Democrats and Republicans in Congress working together with the President to act quickly in addressing the slowdown in our nation’s economy.
“The combination of individual tax rebates and incentives for small business will inject a much-needed boost into the economy and deliver immediate relief to those who have been affected the most by worsening economic conditions, including low- and middle-income families, senior citizens and disabled veterans.
“I am also pleased that the plan includes provisions to help families facing foreclosure. We must continue to do what we can to help homeowners avoid foreclosure and to stem the losses of the subprime mortgage crisis, which is impacting other aspects of the economy.
“In the year ahead, we will continue to work to stabilize and grow the economy in the long term, create good-paying jobs, and help families struggling to make ends meet. It is my hope that Congress and the President can build on the success of the economic stimulus and continue working in a bipartisan fashion to address other challenges that may arise from a weakened economy.”