Reid Proposes Senate Stimulus

Posted October 15, 2008 at 5:39pm

Senate Majority Leader Harry Reid (D-Nev.) on Wednesday unveiled his version of an economic stimulus package, calling for an extension of unemployment benefits, tax cuts, funding for key infrastructure projects and assistance for a low-income heating program.

Reid’s proposal, which dovetails with a plan being offered by Democratic presidential hopeful Sen. Barack Obama (Ill.), will be considered when the chamber reconvenes next month for a brief lame-duck session. House Democrats are planning to consider their version of a stimulus bill when they come back into session over the same period.

Speaking at a press event in Nevada, Reid said: “In recent weeks, Washington responded to the financial crisis by quickly developing a bipartisan plan to restore stability to the financial markets. It’s long past time to deliver that same help directly to working families in Nevada and throughout the country.”

In recent days, Congressional Democrats have increased their calls for an economic stimulus package. Similarly, Obama has trumpeted a series of economic proposals, including a $3,000 tax credit for every employee that a company hires, in order to “encourage businesses to hire more Americans here at home, rather than spending jobs overseas.”

Reid credited Obama for his role in helping shape the Senate package, saying that his colleague has provided a “steady hand during this challenging time.”

“These proposals would help reverse the failed policies of the past eight years, at long last, and put the middle class first,” Reid said. “I thank Sen. Obama for his excellent work in contributing to these ideas.”