Media Center

Today, Congressman David Scott commented on the President’s final State of the Union address as well as the bi-partisan economic stimulus package.

“There are many issues that need to be addressed in the State of the Union address, but two issues that I would like the President to focus on are economic stimulus and healthcare,” Congressman Scott said. “America is experiencing an economic downturn, with families struggling to keep up with the rising costs of gasoline, heat, food and heath care. We need to hear a new long-term vision to provide more stability, to grow our economy and create good jobs here at home, to boost America’s ability to compete, and to better protect America’s middle class and the American worker. The President also needs to ensure that 10 million uninsured children across America have health care coverage by ensuring that SCHIP [Peachcare] receives long-term renewal.”

On Tuesday, the House will pass a stimulus package that will provide tax rebates, housing assistance and small business tax cuts. Georgia unemployment insurance initial claims are up 16 percent since December 2006. In the 13th Congressional district, unemployment has been a real concern: Cobb County – up 33.3% since December 2006; Clayton County – up 17.9% since December 2006; Fulton County – up 15.4% since December 2006.

“In addition to rebate checks, the measure expands affordable mortgage loan opportunities for families at risk of foreclosure through reform of the Federal Housing Administration,” Congressman Scott said. “Among other things, it includes provisions to lower down payments for FHA loans, increases FHA loan limits up to a maximum of $729,750, and permits more borrowers facing defaults to refinance through the FHA. Families in my district have been devastated by foreclosures, so any assistance will make a difference.”

The stimulus package also will increase funding for local housing counseling agencies, which will help families avoid foreclosure. Congressman Scott has long been a champion of home owner education and in 2007 introduced the Financial Literacy for Homeowners Act, H.R. 3133. 

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