U.S. Chamber Urges Swift Action on Economic Stimulus

WASHINGTON, D.C.- The United States Chamber of Commerce today renewed its call for swift congressional action to adopt an economic stimulus package that will boost consumer confidence and business productivity, while helping millions of struggling small businesses and unemployed workers.

"Congress cannot afford to indulge in protracted partisan bickering while the economy is dipping into a recession," said Chamber President and CEO Thomas Donohue, addressing business leaders during a briefing on the U.S. economic outlook. "It's time for lawmakers to end the stalemate and give President Bush a stimulus bill that puts real money in the hands of people who are going to spend it and invest it in the economy.

"Congress must not abandon its resolve," Donohue said. "The anti-terrorism bill and creation of an Office of Homeland Security were critical first steps to recovery. Now the nation's businesses and workers are counting on Congress to produce a package that provides economic insurance and lifts consumer confidence."

The Chamber advocates the following economic stimulus provisions: repealing the corporate alternative minimum tax, accelerating individual tax cuts enacted earlier this year, increasing expensing and accelerating depreciation.

The Chamber also backs additional measures that would provide longer-term economic stimulus, including granting the president trade promotion authority, spending more money from dedicated trust funds on transportation infrastructure improvements and adopting comprehensive energy legislation that includes drilling in the Alaska National Wildlife Refuge.

The U.S. Chamber of Commerce is the world's largest business federation, representing more than three million businesses and organizations of every size, sector and region.

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