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U.S. SEN. SPECTER REPEATS CALL FOR CONGRESS TO REMAIN IN SESSION TO ADDRESS THE PROBLEMS OF THE ECONOMY

 U.S. SEN. SPECTER REPEATS CALL FOR CONGRESS TO REMAIN
 IN SESSION TO ADDRESS THE PROBLEMS OF THE ECONOMY
 WASHINGTON, Nov. 26 /PRNewswire/ -- U.S. Sen. Arlen Specter (R-Pa.) today repeated his call for the Congress to remain in session during December to address the growing problem of the nation's economy.
 Testifying before the Senate Finance Committee, which is studying various recession-fighting measures, Specter said prompt action is needed now by the Congress to get started on ways to improve the ceonomy and to reduce unemployment.
 "I don't want to have to face my constituents next month during a recess when I believe -- and I believe they feel the same way -- that I should be down here trying to get something done," he said.
 Specter, with U.S. Sen. Pete Domenici (R-N.M.), has introduced a bill that would allow individuals to dip into their IRAs and other pension funds to take out $10,000 one time without penalty to purchase durable goods to create purchasing power to stimulate the economy.
 Other proposals before the committee include a number of proposals to provide a tax cut for the middle class.
 Specter said the Congress should be working to pass this legislation now and not next year after the Congress reconvenes in late January.
 "Congress should not adjourn for the year," he said. "By the time these matters are taken up and re-examined next year, it will be late spring, early summer or later before they are passed."
 Specter argued that it is the unfortunate habit of the Congress to act quickly only when it is forced to. By remaining in session during December, it would be forced to take prompt action, he said.
 "My sense is that if we moved now on the tax cut legislation and on allowing pension fund spending, it would be enormously beneficial and we would get this legislation passed," he concluded.
 /delval/
 -0- 11/26/91
 /CONTACT: Dan McKenna or Susan Lamontagne of Sen. Arlen Specter's office, 202-224-9020/


CC-KA -- PH017 -- 7257 11/26/91 11:52 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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