Troubled economy gets help

Sen. Norm Coleman

Fargo Forum

When Minnesota families gather around the dinner table each night, I know they are worried about the health and direction of our economy. While economists may disagree as to whether we are technically in a recession, the fact is folks in the state are certainly feeling the effects of tougher economic times. As a father of two, I understand firsthand the rising toll that high gas prices, rising tuition, soaring mortgage payments and falling home values are taking on Minnesota families.

In my travels around the state in recent weeks, folks from all walks of life have shared with me their specific concerns about the economy. At a recent listening session I held in Rochester, the message I heard is that consumer confidence is hurting and anything Washington can do would be helpful. And while there is no silver bullet to address the many challenges we face, I agree there are some immediate steps we can take to help ease the economic pain and anxiety many Minnesotans are feeling.

To that end, I, along with 80 of my colleagues in the Senate, voted in favor of an economic stimulus package that will provide tax rebates of up to $600 for individuals, including seniors and disabled veterans, along with targeted and temporary pro-growth business tax incentives that will encourage job growth and investment. The bill also includes an increase in federal mortgage loan limits to help ease the housing crunch and ensures that illegal immigrants do not receive rebates. I am proud to report the president quickly signed this bipartisan bill into law.