Jeff Bingaman United States Senator from New Mexico

WASHINGTON – U.S. Senator Jeff Bingaman today said he is pleased that the Senate has approved an economic stimulus package, but is disappointed that the measure had to be scaled back to garner enough votes. As a member of the Senate Finance Committee, Bingaman helped craft the bill. 

Bingaman said he preferred the measure that was defeated in the Senate on Wednesday because it would have extended unemployment insurance by 13 weeks, providing an immediate infusion into the economy. That measure was stripped, along with a $1 billion the Low Income Home Energy Assistance Program, in order to reach the 60 vote threshold for passage. 

The bill does, however, authorize “stimulus checks” that will be likely be processed in the spring. Rebate checks range from $300 for a single taxpayer to $1,200 for a married couple. Some families also will qualify for a $300 per child credit. There were also provisions to assist businesses that are losing money in this economic downturn. 

“Our economy is slowing and like many Americans I’m concerned that we’re heading into a recession. It’s my hope that this measure will help turn our economy around,” Bingaman said. 

The measure has been sent back to the House of Representatives for approval.