…While House Votes To OK the Measure

While the President was describing his economic recovery plan at Dixie Printing, the House voted 216 to 214 to approve the plan. Titled the Economic Security and Recovery Act of 2001, the measure calls for a variety of tax reductions and incentives, as well as unemployment benefits. The bill, sponsored by Congressman Bill Thomas (R-CA), chairman of the Committee on Ways and Means, includes provisions designed to help citizens and business.

"September 11 changed the world in many ways, including the economic dynamics of our nation. It is up to Congress to deliver on the demands made on us by that day of unspeakable tragedy," says Thomas. "This bill offers immediate assistance to millions of Americans and encourages businesses—the job-creating machines—to put what would have been tax dollars into immediate productive uses into the market."

The bill provides $40 billion directly into the hands of working families and includes other economic stimulus measures to help create jobs. Thomas reports that the 10-year cost of the plan is under $160 billion and the measure will stimulate the economy next year by $100 billion.