Today's National Debt: $9,204,761,907,146.33
Your Share: $30,344.87
Dear Friend,
This week President Bush gave his final State of the Union address to our nation and I was pleased to hear his concern for our nation’s current economic downturn. With a barrel of oil rising to its highest price in history, and as working families across America are being hit by a record number of mortgage foreclosures, I have been working in Washington to help craft an economic stimulus package to aide our economy.
There is no silver bullet to avert an economic downturn, but Tuesday I helped pass bipartisan legislation that is timely, targeted and temporary to put money back in the hands of Arkansas’s working families, small businesses and seniors in order to quickly help our sagging economy. This fast-acting plan is a necessary step to help stimulate our economy, and help those who are hurting because of inflation, the mortgage crisis, job loss and the rising costs of health care, groceries and gasoline.
The House passed version of this economic stimulus legislation will provide tax relief to 117 million American families of up to $600 per individual and $1,200 per married couple, plus an additional $300 per child. In order to be eligible for a rebate under this proposal, a minimum of $3,000 in earned income from a job or self-employment in 2007 is required. An eligible individual must have also filed a 2007 tax return, even if they did not owe taxes, so the IRS can locate the recipients and send them their rebates. Those who had no earned income but paid taxes, perhaps on Social Security, pension benefits, or investment income could also receive a refund of their 2007 tax liability. This bipartisan package will expand financing opportunities for Americans in danger of losing their homes, and promote small business investment in equipment which will spur job creation here at home.
In addition, under this proposal, more than 13 million seniors will receive a tax rebate. Nine out of ten working seniors will be eligible for the tax rebate, in addition to seniors who pay income taxes. And while the House passed version was limited in scope, I remain committed to helping to improve this legislation so that more senior citizens can benefit.
The House-passed stimulus package is now in the Senate for consideration and approval. I am hopeful that they will move forward with this legislation in a timely manner to provide a much-needed boost to our economy and to help our working households. I will continue to advocate for this bill’s final passage in the Senate so that it can be sent to the President’s desk as soon as possible to be signed into law, allowing millions of Americans and thousands of Arkansans to benefit.
Sincerely,
Mike Ross
Please remember that if you have issues related to the federal government such as Social Security, Medicare and veterans benefits, you can visit with staff from my office in a community near you. My office will host community office hours at the following locations, dates and times:
Camden - February 7th at 11:00 a.m., at the Ouachita County Courthouse located at 145 Jefferson Street SW;
Bearden - February 7th at 2:00 p.m., at the Bearden City Hall located at 20 2nd St. NE.
Mike meets with Miss Arkansas Rice 2007-2008 Scarlett Drake, of Forrest City on her recent trip to Washington, D.C. to discuss Agriculture issues related to Arkansas rice.
*** As a Member of the United States House of Representatives, I take pride in keeping residents up-to-date on the issues facing our nation. This is why I believe it is vital for me to regularly send out email newsletters to help keep you informed on my work in Congress. These newsletters cover all topics including: our nation's energy crisis, education, agriculture, veteran’s affairs, as well as the ongoing conflicts in Iraq and Afghanistan.
I am writing to inform you that due to rules within the U.S. House of Representatives concerning communication during an election year there will be a blackout period in which I will be limited in the ways that I can communicate with you.
In order to keep receiving my email newsletter during the blackout periods and stay informed on the current issues before the United States Congress, you will need to officially subscribe to receive my email newsletter. To do this, just click the box to the right.
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For more information, please feel free to visit my web site at ross.house.gov or call my office at (800) 223-2220.
