Braley holds first economic recovery town hall meeting - KWWL - Eastern Iowa Breaking News, Weather, Closings

Braley holds first economic recovery town hall meeting

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WATERLOO (KWWL) -- President Obama plans to visit Capitol Hill this week to push the administration's $825 billion economic stimulus package.   Mr. Obama has been meeting with his economic team through the weekend on it.  The President says without bold action, the economy could fall one-trillion dollars short of its capacity.

Representative Bruce Braley (D-IA-1) is holding three town hall meetings this week through Iowa to outline how that plan might work.  Hundreds gathered at East High School in Waterloo Sunday for the first of those meetings. 

Among other things, Braley says increasing foreclosure rates and dropping household income make now the time to act - and setting appropriate short term goals will be vital to future economic recovery.

"We'll be looking for shovel ready projects that can be completed within two years. That's part of the short term emphasis of this stimulus bill, and we know there are literally thousands of those projects here in Iowa and other states that are ready to go. But there will be clear priorities that are assigned to what they're going to put the money into," said Representative Bruce Braley.

During the meeting, people shared their thoughts on nearly every part of the President's recovery package.  There were many questions and comments about how the money would be distributed; people concerned about keeping things equal.

"The problem is if we fail to act we're going to heighten the unemployment in the country and create greater stress to communities like Waterloo and that's why it's important that we act swiftly, pass this bill and get this money out and pumping in the economy," said Braley.

Braley says a vote could come as early as Wednesday on the recovery package.

The next meeting will be at 9:30 a.m. Monday, Jan. 26, at Adler Health Education Center in Davenport.  The final meeting will be at 10:00 a.m. Friday, Jan. 30 at the Grand River Center in Dubuque.

Online Producer: Mike Verlo

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