Dick Cheney checks in
with Northeast Philadelphia

By Tom Waring
Times Staff Writer

Vice President Dick Cheney believes the tax rebate checks being mailed out to consumers will serve as a "shot of energy" for the American economy.
The Economic Stimulus Act of 2008, passed by Congress and signed by President George W. Bush, will provide $150 billion to American taxpayers.
Individuals will receive $600, while couples will get $1,200. Families will also be given $300 for each child.
Last week, Cheney visited the federal government’s Financial Management Service facility at 13000 Townsend Road. He toured the facility and gave a prepared speech to many of the 172 employees.
Across the country, there are three similar sites — in San Francisco, Kansas City and Austin, Texas. Henry Paulson, secretary of the Department of the Treasury, visited the Kansas City location on May 8, the same day the vice president was in Philadelphia.
The Far Northeast office will print the majority of the estimated 132 million payments — 44 million by direct deposit, 88 million by check — to taxpayers, Social Security beneficiaries and disabled veterans or their survivors.
Democrats and Republicans came together to give Americans spending money as budgets tighten with increased costs for gasoline, food and other items.
"The timing of the tax relief could hardly be better for the working people of America," Cheney said.
The vice president, introduced by newly appointed center director Betty Belinsky, delivered a very short speech, only eight minutes long. He praised the employees, who issue electronic fund transfers and check payments for the Social Security Administration and more than 160 other federal agencies. He also brought greetings from President Bush, with whom he spoke that morning at the White House before the president traveled to Texas for his daughter Jenna’s wedding.
Back in 2003, Bush and then-Treasury Secretary John Snow paid a visit to the center to discuss the administration’s child tax credit rebate and economic issues.
As for the stimulus checks, the Philadelphia center hired 24 temporary employees to handle the check payments. About 3 million checks are being disbursed weekly this month using a high-speed laser printer. The figure will jump to 4.25 million each week in June and July.
This is the second time the Bush administration has issued stimulus checks. The other time was six months into its first term, when the economy was sliding toward recession.
The administration also reduced income taxes across the board, increased the child credit, reduced the tax rates on capital gains and began phasing out the so-called death tax and marriage penalty.
"The slowdown that did come was a fairly mild one," Cheney said.
The vice president said the policies eventually led to an increase of more than $1 trillion in the gross domestic product and a record 52 consecutive months of new jobs added.
Americans should be confident of the nation’s economic outlook, he said, but policy makers will do more to ensure a good future.
"This is no time to rest from our labors," he said.
To help Americans who are concerned about their home mortgages, the Bush administration is asking Congress to make improvements to the Federal Housing Administration and reform the regulatory structure of Fannie Mae and Freddie Mac.
In his speech, Cheney called on Congress to pass free trade agreements and make the administration’s tax cuts permanent.
If all that is done, the vice president said, the actions of American taxpayers, entrepreneurs and investors will spur growth.
"Our economy remains the envy of the world," he said. ••
Reporter Tom Waring can be reached at 215-354-3034 or twaring@phillynews.com