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No short-term economic fix, LI congressman says

BY KRISTEN M. DAUM | kristen.daum@newsday.com

May 17, 2008

WASHINGTON - Southampton Democratic Rep. Tim Bishop said Friday that Congress is doing what it can to ease Americans' financial woes but recognizes there's no "short-term fix" when it comes to the economy.

In a conference call with Long Island media, Bishop detailed the various proposals in Congress that members hope will boost the economy by the summer.

Congress has worked in the past several weeks to pass various pieces of legislation - addressing the poor economy, the subprime mortgage crisis, and escalating food and gas prices.

"Beyond things like that - I think I have to be honest and say that there is not a short-term fix," Bishop said, adding it might be several months before possible solutions - like the stimulus rebate checks issued this month - impact the national economy.

But Bishop's Republican rival Lee Zeldin disagrees. Zeldin said Congress is trying to tackle too much at once - and could be doing more to lower gas prices by tapping Alaska's oil fields.

"Congress is, right now, very confused with the direction that the leadership wants to take the country," said Zeldin, a 28-year-old lawyer making his first run for Congress.

Bishop steered clear from partisan remarks during the conference call - but did condemn Sen. John McCain's proposal for a summertime gas-tax holiday as "superficially seductive and irresponsible." McCain, the presumptive Republican presidential nominee, has no plan to pay for the holiday - which could mean millions of dollars less for maintaining highway infrastructure, Bishop said.

Democratic contender Hillary Rodham Clinton's gas-tax holiday plan is "at least discussable," Bishop said.

Clinton has said she wants to shift the tax burden to oil companies during the summer as a way to pay for the break on consumers.