US House Speaker vows more stimulus if needed
Fri, Jan 25, 2008

WASHINGTON, US - UNITED States House of Representatives Speaker Nancy Pelosi said she was not totally pleased with a US$150 billion (S$216 billion) economic stimulus package unveiled on Thursday, and vowed further action if needed to boost the country's flagging economy.

'I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy, and if it does not then there will be more to come,' she said at a news conference announcing the economic plan.

Ms Pelosi said the package would be brought to a Congressional vote as quickly as possible, and urged bipartisan support to ensure that tax rebates reach consumers as soon as possible.

A fact sheet released by the California Democrat said that under the proposed stimulus plan, 117 million US families would receive a tax rebate check. Individuals would get tax relief of up to US$600, while married couples would see help of up to US$1,200, plus US$300 per child.

Many Democrats had hoped that the deal would include other forms of aid, such as additional food stamps or an extension in the amount of time that people could collect unemployment benefits.

Ms Pelosi said that she had discussed the matter with President George W. Bush, and expressed her hope that the government would address unemployment insurance, Medicaid and 'other issues that spring from a weakened economy'.

'Should our economy continue to worsen, we will not hesitate to advance additional legislation ... to respond to the economic pressures affecting the American people,' Ms Pelosi said. -- REUTERS


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