Press Releases
January 22, 2008
Conrad Calls for Economic Stimulus Package
Senator Supports Timely, Temporary and Targeted Package to Boost Economy
Washington – Senator Kent Conrad today announced his support for a temporary stimulus package in an effort to boost the ailing economy, but urged his colleagues to construct a bipartisan comprehensive package that does not add to the nation’s long-term budget problems.
“There is no doubt that something needs to be done to kick-start America’s economic engine,” Senator Conrad said. “But we must be smart about how we do it. We need a well-designed, targeted plan for economic growth. We need to get our nation’s economy back on track.”
In a hearing today of the Senate Finance Committee, Senator Conrad questioned Dr. Peter Orszag, the director of the Congressional Budget Office, about the need for a fiscal stimulus package, the appropriate size of it, and the criteria for designing it effectively.
“We need to focus on measures that will give us the biggest bang for the buck and will flow into the economy rapidly, so that we stimulate the economy when it is needed,” Senator Conrad said. “My preference remains to pay for the cost of any stimulus package over five or ten years so that it does not add to our debt. But our primary concern should be getting stimulus into the economy as quickly as possible.”
Senator Conrad also met today with Jim Nussle, the White House budget director, to discuss an economic stimulus package and its pending impact on the nation’s deficit.
“As long as the stimulus measures are timely, temporary, and well-targeted, we can boost the economy without worsening our structural deficit or undermining our commitment to fiscal discipline,” Senator Conrad said.
Senator Conrad is the Chairman of the Senate Budget Committee. He is also a senior member of the Senate Finance Committee, which has jurisdiction over U.S. tax policy.
