Second Stimulus Package In The Works?
by Craig Jennings, 9/9/2008
CongressDaily and CQ are both reporting that Congressional Democratic leadership are signaling that they will attempt to move a second stimulus package before they adjourn for the year.
... and House Majority Leader Steny Hoyer (D-MD) in CQ:"The state of the economy is very desperate," Reid said on the floor as he discussed the agenda for the rest of the month before the Senate is expected to adjourn -- possibly for the year. "Since we left here for a recess ...we have only more bad news, which means we should look forward ... during this work period to see if we can do an economic stimulus bill."
Reid cited increasing unemployment and the stubbornly shaky housing market as other reasons for another stimulus.
"And the news of the day -- the federal intervention on Fannie and Freddie -- is but the latest evidence that our economy is in serious trouble," Reid said.
"I don't think rebates will be part of the package,'' he said Tuesday, while stressing what he called a need for more infrastructure spending and assistance to unemployed and low-income Americans.
Hoyer said infrastructure spending will be a major element of any package. He also listed home heating assistance, expanded unemployment benefits to deal with the nation's rising jobless rate and expanded federal help to the states for Medicaid programs.
Hoyer's suggestion, thankfully, has quite a bit in common with the common-sense list of suggestions put forth by the Coalition on Human Needs and the Emergency Campaign for America's Priorities in their Towards Shared Recovery proposal.
Image by Flickr user respres used under a Creative Commons license.
