Greg Ganske: “the economy is sick. Unemployment is going up. The economy does need a shot in the arm. This bill contains provisions to…”

“the economy is sick. Unemployment is going up. The economy does need a shot in the arm. This bill contains provisions to help the unemployed with health care coverage, provisions to encourage business investment and deductions for capital losses. I rise in support of the rule and in support of the underlying bill. This bill will cut the current 27 percent rate to 25 percent. It will provide tax incentives to businesses for investments and give low income workers a one-time $300 per person tax rebate. It provides $33 billion in assistance to unemployed workers next year up from $13 billion in the original House bill. It does not include the full repeal of the corporate AMT. The toughest issue to reach compromise on, as you can already see from the debate, is how to provide health insurance coverage to people who lost their jobs. This bill gives laid-off workers a tax credit they can use to buy health care coverage from insurers. This is a more comprehensive approach than simply providing subsidies through existing health plans. I think this bill will help a larger universe of unemployed workers, particularly workers for small businesses. This stimulus bill will also help with rebuilding New York. It will help the September 11 victims' families. Furthermore, it provides up to 13 weeks of extended benefits for those who became unemployed after March 2001.”