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Congressman Dennis Cardoza
18th Congressional District of California

Congressman Cardoza’s Statement on Economic Stimulus Package
 

 
FOR IMMEDIATE RELEASE
February 7, 2008		 CONTACT:  Jamie McInerney
(202) 225-6131

WASHINGTON – Today, H.R. 5140, the Economic Stimulus Act of 2008, was passed by the House and Senate. The package will inject $170 billion to stimulate the economy by providing rebate checks to millions of American families, seniors, and veterans. Additionally it provides tax breaks to small businesses and includes provisions to help families avoid losing their homes to foreclosure.
 
“Families in the 18th Congressional District are struggling just to make ends meet, and the economic downturn is only making things worse,” said Congressman Dennis Cardoza. “I’m proud Democrats, Republicans and the Bush Administration worked together to craft a plan that will give the economy a much-needed boost, and deliver to families the relief they need right now.” 
 
“I am especially happy that the package includes my proposal to put the Federal Housing Administration (FHA) back in business by allowing it to provide relief to mortgage borrowers across the country, including regions with high median home values like California, that FHA is currently prohibited from serving,” continued Cardoza. “The Valley is the epicenter of the mortgage foreclosure crisis and this relief cannot come soon enough.”

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