Speaker Nancy Pelosi (D-Calif.) said Thursday that Democrats are considering an array of additional stimulus measures, including aid to states, homebuyer credits, business tax breaks and extended unemployment insurance.
Pelosi didnt put a price tag or a timeline on the new stimulus proposal, saying she wanted to hear first from economists and Members of Congress on what might be needed.
We believe that the recovery package is working, Pelosi said, but she said that additional measures were being considered. We continue to have conversations with Members.
She said the $787 billion stimulus package signed into law in February had already helped prevent many more job losses that would have occurred otherwise, especially at the state level, and said Democrats are urging that more of the money be spent quickly.
The potential additional stimulus measures include more aid to state governments and an extension of the new homebuyer credit due to expire in November, although Pelosi said it could be broadened to other homebuyers. Pelosi also said the net operating loss carrybacks for companies could be extended to five years. That provision has been sought by many industries that have suffered recent losses but were profitable earlier in the decade, like real estate.
A number of House Democrats have pushed for another stimulus package with unemployment surging toward double digits. Many Members have specifically urged swift passage of a $500 billion, six-year transportation bill already in the works to help stimulate the economy.
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.