House Approves Extended Unemployment Benefits and Tax Relief

February 14, 2002

WASHINGTON - Calling job creation and economic growth key to helping the unemployed and getting our economy moving again, Congressman David Dreier (R-San Dimas), Chairman of the House Rules Committee, today voted for a third economic stimulus package that provides extended unemployment benefits and tax relief to small businesses and consumers. The House approved the package today with bipartisan support, 225-199.

“People are still hurting, they’re still out of work,” Dreier said. “The need for this legislation hasn’t gone away, and unfortunately, neither has the politics. This isn’t the first time we’ve approved unemployment assistance and tax relief for working Americans. I sincerely hope this third time will be the charm. The Senate needs to act on this, and they need to act soon. We’ve heard enough rhetoric, it’s time we do something to help people get a new job and buy that new appliance. This package provides the short and long term help the American people will be able to really use.”

The package approved by the House today will:

• Extend unemployment benefits by 13 weeks for those who lost their jobs as a result of the recession and September 11th, and will extend them further if unemployment persists;
• Provide small businesses and entrepreneurs tax relief so that they can expand their businesses and create jobs;
• Accelerate income tax rate reduction from 27 to 25 percent, saving 33 million taxpayers over $12 billion this year; and,
• Provide a thirty percent bonus depreciation for business investments.

Dreier noted that the Senate has also yet to act on two other bills that will create jobs and stimulate economic growth, a national energy security policy and Trade Promotion Authority. “If the Senate will just act on these important pieces of legislation, we will be well on our way to economic recovery. The American people have waited long enough. The time for action is now.”