Letter to the Senate Supporting Motion for Cloture on Economic Stimulus Legislation
February 4, 2008
TO THE MEMBERS OF THE UNITED STATES SENATE:
The U.S. Chamber of Commerce, the world's largest business federation representing more than three million businesses and organizations of every size, sector, and region, urges the Senate to support the motion for cloture on the House-passed economic stimulus legislation. The Chamber believes timely action is necessary to improve the nation's economic outlook.
The Chamber believes that the House-passed economic stimulus bill represents a balanced package of business and personal incentives. These include bonus depreciation, increased expensing provisions, increased loan limits for government sponsored enterprises (GSEs) and the Federal Housing Administration (FHA), and the issuance of tax rebates to individuals.
The Chamber believes these changes, in the short run, act as an insurance policy by boosting consumption and encouraging timely investment, and, in the longer run, increasing productivity and furthering the prospects for long-term economic growth.
For these reasons, the Chamber urges you to support the motion for cloture on the House-passed economic stimulus legislation and may consider votes on, or in relation to, this issue in our annual How They Voted scorecard. The Chamber looks forward to working with Congress to ensure the timely enactment of a stimulus package.
R. Bruce Josten