Catholic Charities USA to Congress: Any Economic Bailout Package Must Also Address the Needs of Poor and Low-Income Families

Business Wire, Sept 25, 2008

ALEXANDRIA, Va. -- As Congress and the Administration continue to work to rescue our nation's banking and financial system, Catholic Charities USA today urged Congress to ensure that any plan to shore up the finance sector includes an economic recovery package that benefits vulnerable children and families.

"A financial bailout for Wall Street must include economic relief for the hardships of Main Street, ensuring that those with the least do not bear the greatest burden in this crisis," wrote Rev. Larry Snyder, president of Catholic Charities USA in letters to House and Senate leadership. "We urge Congress to remember the low and middle-income Americans whose lives and economic security are being shattered by the current economic crisis."

According to Catholic Charities USA, the current financial crisis demonstrates the fragile and deeply interconnected nature of our nation's financial structure. The economic structure that is now in obvious crisis has for some time been failing to meet the needs of average Americans. Poverty and economic inequality have been present in our communities long before this current economic crisis and no healthy economic system can co-exist with these systemic ills.

Specifically, Catholic Charities USA calls on Congress to include the following provisions in its bailout package that will benefit the entire nation:

* Extend Unemployment Insurance;

* Increase Food Stamp benefits;

* Protect low-income families from losing Medicaid and social service assistance; and

* Increase home energy assistance.

"While we fully appreciate the potential dangers for our nation's economic stability if we fail to act to secure our financial system, we also understand that the road to long-term recovery must include assisting poor and low-income families who are suffering the direct effects of this economic crisis in the form of rising utility, energy, food, and housing costs," wrote Father Snyder. "We ask that you keep those families in mind and champion their needs as you move to develop a truly comprehensive economic recovery package."

Catholic Charities USA's members--more than 1,700 local agencies and institutions nationwide--provide help and create hope for nearly 8 million people a year regardless of religious, social, or economic backgrounds. For more than 275 years, local Catholic Charities agencies have been providing a myriad of vital services in their communities, ranging from day care and counseling to food and housing. For more information, visit www.CatholicCharitiesUSA.org.