US Companies Scramble For Obama Rescue Funds

2009/1/7 11:06:00 29

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Obama's $775 billion economic recovery plan is a big cake, and every industry hopes to get a slice of it.

The American Tourism Association says it wants to set up a government department to promote the tourism industry in the world. Geoff Freeman, senior vice president of the association, said bringing people from all over the world to the US consumption is a good medicine to stimulate the US economy.

The American Textile Importers Association expressed the hope to completely exempt the import duty on clothing.

The financial industry is not idle. Although the financial sector has already received $1 trillion in the past year, the financial sector still says it needs more money.

The Federation of financial services industries called for a doubling of the mortgage interest rate for first-time home buyers, and the securities and Financial Market Association hopes to ease restrictions on banks' holdings of municipal bonds.

There are many lions in the industry that ask Obama for money, and environmentalists in the United States have listed a list of 80 projects with a capital scale of 405 billion dollars, which accounts for more than half of Obama's economic recovery plan.

Out of the blue, the US steel industry has directly proposed a two-year project with a scale of US $1 trillion. Daniel DiMicco, chairman of iron and steel giant Nucor, said Obama's economic recovery plan involves large-scale pportation systems, bridges, power grids, schools, hospitals and water treatment plants.