DeGette Comments On Interest Rate Cut

WASHINGTON,D.C. – Chief Deputy Whip Diana DeGette (D-C0) today issued thefollowing statement today after the Federal Reserve Board issued anemergency rate cut of a key interest rate by 3/4 of a percentage point:

"As our economic outlook worsens, consumers are struggling withskyrocketing gas and home heating costs, increases in college tuition,and rising health care costs. The emergency interest rate cut was anecessary step in the right direction to restore public confidence inthe market and revitalize our economy.

"The DemocraticCongress is working in a bipartisan way with the Bush Administration todevelop a timely, targeted, and temporary fiscal stimulus plan thatwill provide relief to the American consumer by putting more money intotheir hands. This stimulus package will help strengthen our economy byencouraging low to middle-class families to reinvest in the economyproviding a much needed boost."