U.S. Sen. Bob Casey, D-Pa., a member of the Senate Banking Committee last week sent a letter to U.S. Sen. Majority Leader Harry Reid, D-Nev., and to U.S. Sen. Minority Leader Mitch McConnell, R-Ky., outlining his priorities for the upcoming stimulus package."Now is the time for bipartisan action, and I am confident that the Senate can work together to produce a legislative package that will encourage the generation of family-sustaining jobs and support for families struggling in the downturn," Senator Casey wrote. "I am committed to working with you to spur immediate new job creation and ease the challenges facing families in the current economic crisis. I also believe that while circumstances require us to stimulate the economy immediately, we have a unique opportunity to reinvent our economy for the 21st century."
In the letter, Senator Casey expressed that the stimulus should be based on the new three "T's": Timely, Targeted and Transformative.
"Timely: Workers and families are suffering now, businesses of all sizes are struggling to stay afloat and access credit, and state and local governments face significant budget shortfalls. Any stimulus should be targeted at initiatives that can be implemented quickly.
"Targeted: Already this year, the Federal government has passed one stimulus and committed $700 billion to rescuing the financial sector. Any additional stimulus money should be directed to entities - whether households, businesses or state and local governments - that will spend it or lend it, thus pumping funds into the economy.
"Transformative: Although the United States now competes in a global economy, it does so with crumbling infrastructure that was not designed to meet the challenges or seize the opportunities of the next century, such as climate change, energy independence, or technological innovation. We also lack a clear human capital strategy, which deprives our workers and businesses of what they need to compete. We must take steps now to transform our economy for the world we live in, which is vastly different than the one our economy is built for."
Full text of the letter is can be found on Casey's Web site, http://casey.senate.gov/newsroom.