ECONOMY
Documents & Texts from the White House/h2>
28 September 2008
Statement by the President on Bipartisan Agreement on Economic Rescue Legislation
Related:
• 27 September 2008: President's Radio Address
Today, a bipartisan group of Members of Congress, working with my
Administration, reached agreement on economic rescue legislation that is
urgently needed to address a crisis in our financial system that
threatens the entire U.S. economy.
I appreciate the leadership shown by Members on both sides of the aisle,
who came together to write a very good bill. This bill provides the
necessary tools and funding to help protect our economy against a
system-wide breakdown. The bill will help allow access to credit so
American families can meet their daily needs and American businesses can
make purchases, ship goods, and meet their payrolls. And this plan
sends a strong signal to markets around the world that the United States
is serious about restoring confidence and stability to our financial
system. Without this rescue plan, the costs to the American economy
could be disastrous.
Many Members of Congress contributed important ideas to improve the
legislation my Administration proposed. I appreciate the negotiators
considering those ideas and incorporating them in this agreement.
Members of Congress will vote on this legislation soon. This is a
difficult vote, but with the improvements made to the bill, I am
confident Congress will do what is best for our economy by approving
this legislation promptly.
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