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SENATORS URGE EXTENSION OF SECTION 1603 PROGRAM

Thursday, December 8, 2011 - 8:00AM

Congressional Democrats sent two letters yesterday urging Congressional leaders to extend the Section 1603 program, which is set to expire on December 31, 2011. The Senate letter, signed by 34 Democratic Senators and sent to Senate Majority Leader Harry Reid, Minority Leader Mitch McConnell, Finance Committee Chairman Max Baucus and Finance Committee Ranking Member Orrin Hatch, said that the Section 1603 program has supported 290,000 jobs and leveraged $23 billion in private investment. In the letter to House leaders Speaker of the House John A. Boehner, House Minority Leader Nancy Pelosi, House Majority Leader Eric Cantor and House Minority Whip Steny Hoyer, 88 Democratic Representatives also cited the job creation and private investment spurred by the program.

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