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Trade Associations Urge Congress To Pass $700 Billion Rescue Package

Wednesday, October 1, 2008

(American Meat Institute)

AMI joined more than 50 other trade associations in signing a joint letter to Congress urging the House and Senate to pass the Emergency Economic Stabilization Act and bring stability to the credit markets.  “The evaporation of credit is affecting businesses of all sizes and consumers and we run the risk of further declines in housing values,” the letter states. 


The letter underscores the effect the lack of liquidity and credit is having on American businesses, affecting everyone from Main Street to Wall Street. “If Congress fails to act and credit markets tighten further, our associations’ members will find it more difficult -- if not impossible -- to secure credit to run their companies, and our members’ employees will find it harder to get mortgages, secure auto loans, and borrow money to send their children to college,” the letter adds.


The signators note that the future health of the economy is relying on quick passage of a robust plan to help prevent a complete freeze in the credit markets.  “Americans rely on credit and liquid markets to make our economy function, and we will continue to see our economy and the well-being of all Americans impacted unless Congress acts,” the letter states.


To see a copy of the letter, click here:



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