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Obama Urged to Put Forward Economic Stimulus Proposal

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California Governor Arnold Schwarzenegger has urged President-elect Barak Obama to put forward a federal economic stimulus proposal to cope with the worsening economic recession, the Governor's Office said on Tuesday.

Schwarzenegger told Obama in a letter that there was urgent need for "a broad national economic recovery package to generate jobs and get our economy moving forward again," the office said in a statement.

Schwarzenegger sent the letter late Monday, said the statement.

"A substantial federal stimulus program is needed to ease the impacts of the current economic downturn," the statement quoted Schwarzenegger as telling Obama. "My administration is committed to working with you to develop strategies to revitalize our economy, put the nation on a path to energy security and help our citizens during this difficult time."

Schwarzenegger listed four key areas that will stabilize and expand the economy: investment in infrastructure, energy security, stabilization of the housing market and assistance to states to help meet the needs of the medically indigent, said the statement.

These projects would help California generate nearly 800,000 jobs, the statement said.

Schwarzenegger also urged Obama to make tax credits and accelerated depreciation for renewable energy projects refundable so that companies can realize these benefits in the short term, according to the statement.

(Xinhua News Agency January 7, 2009)