Tuesday, January 29, 2008

AS THE CONGRESS TURNS - THIS JUST IN!

The House version of the Economic Stimulus Plan, previously discussed here and all over the blogosphere, was approved today (Tuesday) by a vote of 385-35 after little debate. It would send rebates to some 111 million families and give tax breaks to businesses, and cost $161 Billion over two years.

In the Senate, a version introduced by Senate Finance Committee Chairman Max Baucus that adds $35 Billion (total cost $196 Billion) for senior citizens and the unemployed, and shrinks the rebate to $500 for individuals and $1,000 for couples, is expected to be voted on by the SFC tomorrow. The Senate version would also deliver checks even to the richest taxpayers, who get nothing under the House-passed measure.

No comments: