Protection urged for the poor in pending economic stimulus bill

Published: 2008-01-25

WASHINGTON (CNS) -- As Congress prepared to weigh an economic stimulus bill brokered by House leaders and the Bush administration, the U.S. bishops' conference urged the treasury secretary to protect the poorest families from financial hardship. House leaders and President George W. Bush Jan. 24 announced a $150 billion package of cash payments to poor and middle-class workers and easier tax write-offs for some businesses. The proposals are intended to stimulate the economy, which financial analysts, including the chairman of the Federal Reserve Bank, have warned is heading toward recession. "While their voices are not always heard, poor people have compelling needs that should have a priority claim on our consciences and on the choices and investments which you will make," wrote Bishop William F. Murphy of Rockville Centre, N.Y., in a Jan. 23 letter to Treasury Secretary Henry M. Paulson Jr. The bishop said such an approach makes practical sense, because the poorest segment of the population "will most likely use this money short-term within the economy." Bishop Murphy heads the Committee on Domestic Justice and Human Development of the U.S. Conference of Catholic Bishops. He quoted the testimony of Federal Reserve Chairman Ben Bernanke to the House Budget Committee, saying "there is good evidence that cash that goes to low- and moderate-income people is more likely to be spent in the near term."

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