This week, Democrats and Republicans in the House joined together to pass an economic stimulus package that is timely, targeted and temporary. This legislation would quickly get money into the hands of people who need it and will spend it, thereby boosting our struggling economy. The bipartisan package also includes provisions to help small businesses and increase business investment, which will help create jobs. Lastly, we addressed the housing crisis and moved to mitigate its ripple effects in our communities by providing assistance to homeowners who are facing foreclosure.
This critical legislation has now moved onto the Senate, where action is expected next week. House Leaders are pressing our Senate colleagues to act quickly and we are confident that they will do so. I believe that we will have an effective stimulus package enacted by the middle of this month.
President Bush also addressed Congress and the nation this week in his final State of the Union Address. I was disappointed by his failure to provide bold new ideas and forceful leadership on the critical issues facing our country. However, I am hopeful that he will work with Congress in a bipartisan manner, as we did on the economic stimulus package, to make progress for the American people.