U.S. Congressman Allen Boyd (D) voted against the economic stimulus package also known as the American Recovery and Reinvestment Act of 2009. Although Boyd voted nay, the U.S. House of Representatives passed the $819 billion measure January 28 during the first session of the 111th Congress by a vote of 244-188. The bill is now under consideration in the U.S Senate.The purpose of the Act in part is to preserve and create jobs, promote economic recovery and stabilize state and local government budgets in order to minimize and avoid reductions in essential services and increases in state and local taxes.
According to a press release on Boyd’s official website, he questioned whether the package would create jobs or strengthen the economy in the short or long term. Boyd also questioned the actual price tag of the stimulus, citing that to fund the plan the government would have to borrow the money, which would add an estimated $347 billion in interest payments to service the debt, which could end up costing taxpayers $1.2 trillion.
In President Barack Obama weekly address, the President urged prompt passage of the stimulus package, citing recent statistics showing continuing deterioration in the national economy. He stated that the economy has shrunk by nearly 4 percent from October through December, the largest decline in over a quarter century, which has brought on a loss of tens of thousands of jobs in the month of January alone.
The President further stated that the measure the House passed will save or create more than 3 million jobs, put a tax cut into the pockets of working families, and place a down payment on America's future by investing in energy independence, education, affordable health care, and infrastructure.
According to a press release on Boyd’s official website, he questioned whether the package would create jobs or strengthen the economy in the short or long term. Boyd also questioned the actual price tag of the stimulus, citing that to fund the plan the government would have to borrow the money, which would add an estimated $347 billion in interest payments to service the debt, which could end up costing taxpayers $1.2 trillion.
In President Barack Obama weekly address, the President urged prompt passage of the stimulus package, citing recent statistics showing continuing deterioration in the national economy. He stated that the economy has shrunk by nearly 4 percent from October through December, the largest decline in over a quarter century, which has brought on a loss of tens of thousands of jobs in the month of January alone.
The President further stated that the measure the House passed will save or create more than 3 million jobs, put a tax cut into the pockets of working families, and place a down payment on America's future by investing in energy independence, education, affordable health care, and infrastructure.
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