WASHINGTON, D.C. — Bruce Josten, executive vice president for Government Affairs at the U.S. Chamber of Commerce, today released the following statement on the Senate passage of the economic stimulus bill, the "American Recovery and Reinvestment Act":
"While this legislation is not perfect and should be improved in conference, it is a positive step forward. It offers a much-needed shot in the arm for employers trying to stay afloat, workers concerned about keeping their jobs, and those who have lost work because of the crumbling economy.
"We are pleased to see the inclusion of several tax initiatives as well as spending provisions to provide stimulus, create jobs, and to get our economy moving.
"Congress now begins the critical process of hammering out differences in the House and Senate bills. The Chamber will focus on strengthening the cancellation of indebtedness provision to provide liquidity to the market. We'll also push to extend the net operating loss carryback period, enhance small business expensing, offer housing credits, and investment in critical infrastructure projects.
"Much work remains to be done, but we applaud the Senate for moving quickly so we can begin the process of putting Americans back to work."
The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.
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