“Press reports this morning indicate that President Bush is finally releasing an economic stimulus plan. Unfortunately, the Bush plan shortchanges the 50 millions Americans who most need an economic shot in the arm.
“I have been calling for bipartisan action on stimulus for over a month and last week laid out a detailed plan to help struggling families and boost our economy. While I believe my plan is the strongest approach, the need for stimulus is urgent and we need a bipartisan package that is temporary and targets those who need help the most.
“For the White House to propose spending over $100 billion to jumpstart the economy, while shortchanging assistance to the 50 million families who are struggling the most and are most likely to inject those funds into the economy makes no sense. The Bush approach would fail to fully help the millions of lower income senior citizens who live on fixed incomes and are under enormous financial stress. And it would disproportionately leave out African American and Hispanic families who have, on average, lower incomes than white families.
“I hope President Bush will work with Democrats to design an economic stimulus plan that includes temporary tax relief focused on both jumpstarting our economy and fully supporting our most hard-pressed working families. I also urge the Administration to address the concerns I raised in my plan, including help for those struggling to find new jobs, keep their health care, and pay rising energy bills. And it's vital to recognize that without aggressive action to stabilize the housing crises, no plan will be fully effective for struggling families and communities across this nation.”