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February 11, 2009

Good News! Stimulus Package Below $800 Billion

I suppose we should praise Senators Specter, Snowe and Collins for their efforts to really cut out that pork, huh?

WASHINGTON (AP) - Negotiators for Congress and the White House have tentatively settled on a $790 billion price tag on President Barack Obama's economic stimulus bill and are working to narrow differences on individual elements of the bill.

After unofficial talks stretching into the late evening on Tuesday, officials announced a formal meeting of negotiators for mid-afternoon in the Capitol as they try to get a bill to Obama's desk for signing by week's end.

Democratic aides said that Obama's negotiating team had prevailed in restoring some lost funding for school construction projects during talks Tuesday, and had also increased aid to state governments above the $39 billion approved in a compromise with a handful of Senate GOP moderates.

Obama's "Making Work Pay" tax credit would be reduced from $500 per worker to $400, with couples eligible for an $800 credit, instead of $1,000, said a Democratic aide close to the talks. This aide spoke on condition of anonymity because the negotiations are private.

Note the emphasized section. The only thing in this bill that might actually stimulate the economy - tax credits - are being cut. Got to have that spending on school construction, after all.

posted by Slublog at 11:34 AM

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Stimulus Package Below $800 Billion I suppose we should praise Senators Specter, Snowe and Collins for their efforts to really cut out that pork, huh? WASHINGTON (AP) - Negotiators for Congress and the White House have tentatively settled on a $790 billion price tag on President Barack Obama's economic stimulus bill and are working to narrow differences on individual elements of the bill. After unofficial talks stretching into the late evening on Tuesday, officials announced a formal meeting of negotiators for mid-afternoon in the Capitol as they try to get a bill to Obama's desk for signing by week's end. Democratic aides said that Obama's negotiating team had prevailed in restoring some lost funding for school construction projects during talks Tuesday, and had also increased aid to state governments above the $39 billion approved in a compromise with a handful of Senate GOP moderates. Obama's "Making Work Pay" tax credit would be reduced from $500 per worker to $400, with couples eligible for an $800 credit, instead of $1,000, said a Democratic aide close to the talks. This aide spoke on condition of anonymity because the negotiations are private. Note the emphasized section. The only thing in this bill that might actually stimulate the economy - tax credits - are being cut. Got to have that spending on school construction, after all. posted by Slublog at 11:34 AM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments m: "356 sssssssssssssss Posted by: sleestak in hot pu ..." Pamazon: "Mutilated Dick. A picture. ..." m: "264 I was told as a child, quicksand would be a wa ..." I used to have a different nic: "[i]Kate Middleton[/i] I love Catherine but I do ..." Bulg: "Khomeini was also Man of the Year. Time has alway ..." 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