Sean Patrick Maloney: “Madam Speaker, today we will vote on an important bipartisan achievement, an economic stimulus package that is truly…”

“Madam Speaker, today we will vote on an important bipartisan achievement, an economic stimulus package that is truly timely, temporary and targeted. Under the plan, more than 100 million families squeezed by the high cost of basic living expenses will get a meaningful tax rebate, and it is targeted to those families most in need. Millions of families can get help to avoid losing their homes, and small businesses can take advantage of tax cuts that will help spur investment and job creation. This package will provide a boost to the economy by putting hundreds of dollars into the hands of middle and lower income families who will generate demand without the fear of igniting inflation. Our plan also temporarily raises the mortgage lending limits for FHA, Fannie Mae, and Freddie Mac to increase affordable refinancing options for those facing foreclosure and to inject much needed liquidity into the housing markets. I regret that many of the aspects of the FHA reform were cut out of the bill, and we hope to have them passed in the Senate. These efforts build on the hard work of Democrats in Congress to help families stay in their homes and to prevent other crises like this from happening in the future. This package is an important first step, but there is much more to do. We will keep fighting to restore the American Dream and to help America's hardworking families.”