Jerry Nadler: “with Christmas just around the corner, the Republican leadership is once again handing out its presents to the large…”

“with Christmas just around the corner, the Republican leadership is once again handing out its presents to the large corporations. That might not be so bad if there were any economic value to this so-called stimulus bill. We should be putting money into the hands of people most likely to spend it, the unemployed and those people living paycheck to paycheck. Instead, this bill would give billions to corporations, hoping they will make products for people who do not have the money to buy the products. That is not stimulus, that is corporate giveaway. Even the portions of the bill directed toward rebuilding New York are a disappointment. They are simply the same tax incentives that we passed just last week on the victims tax relief bill. As I noted then, while we welcome these measures in aiding our long-term economic revitalization, they do not provide the immediate relief that New York desperately needs. My distinguished colleague, the gentleman from New York (Mr. Rangel), has a substitute that has just what we need today. In particular, he would address the devastation our small businesses are facing now. The gentleman from New York's provisions would help small businesses survive the transitional period until Lower Manhattan is rebuilt and larger businesses return to the area. Only then will their customers return. But this bill just tells them to wait a few years. By then it will be too late. Mr. Speaker, this bill is nothing new.…”