WASHINGTON–The National Retail Federation cheered today’s Senate approval of economic stimulus legislation designed to boost consumer spending by providing taxpayers with rebate checks.
The Senate today voted to approve the Recovery Rebates and Economic Stimulus for the American People Act of 2008, after amending the House-passed bill to add Social Security recipients and disabled veterans to the list of those eligible to receive rebate checks while barring checks for illegal immigrants.
“Expanding the rebate checks to include retirees and disabled veterans is a win-win strategy,” said Steve Pfister, the NRF’s senior vice president for government relations, in a statement. “Retirees and veterans not only deserve a check, but are also among those most likely to spend the rebates so that this money gets put to work in the economy right away. We agree with economists who say that boosting consumer spending is the quickest way to get the economy back on track,” Pfister said. “Consumer spending represents 70 percent of our nation’s economy.”
