US' Geithner sees substantial impact from jobs bill

September 9, 2011 15:43


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WASHINGTON - US Treasury Secretary Timothy Geithner said on Friday that the Obama administration's new jobs bill would have a substantial positive impact on the US economy if passed by Congress.

"If Congress were to act on this bill, it would have a substantial powerful effect on strengthening the economy that has slowed quite a bit and that would translate into jobs for hundreds of thousands of American workers at a time when we need that," Geithner told National Public Radio in a telephone interview.

He also said that the administration did not need an act of Congress for new initiatives to boost refinancings of federally supported home mortgages. He said more details on how refinancings would work would be announced in the next three weeks.

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