Food Stamps Will Stimulate the Economy More than Tax Cuts, Pelosi Says
Rep, Nancy Pelosi (D-Calif.), speaker of the U.S. House – Food stamps and unemployment insurance will provide more economic stimulus than tax cuts, House Speaker Nancy Pelosi said Tuesday during a telephone press conference.
“(F)ood stamps and unemployment insurance, which affect the people in the states, are necessary at this time when funds are short and the economy is down, (and) actually have the most stimulative effect on the economy,” Pelosi said. “Food stamps first, unemployment insurance next, infrastructure after that, and it goes on from there.”
“Actually, those investments bring a bigger return than the tax cuts,” she said, adding: “but tax cuts where we have them – to the middle class – we think will give us our biggest return.”
During the press conference, Pelosi laid out the contents of the American Recovery and Reinvestment Act, which is expected to be passed in the House Wednesday.
The 20-minute news conference also included Govs. Edward Rendell (D-Pa.) and Jim Douglas (R-Vt.).
The American Recovery and Reinvestment Act will devote $20 billion to “provide nutrition assistance to modest-income families and to lift restrictions that limit the amount of time individuals can receive food stamps,” according to a summary of the plan released last week by the House Appropriations Committee.
“It’s about jobs, tax cuts and accountability,” Pelosi said of the legislation.