- Feb 2, 2006
- Reaction score
- Political Leaning
- Very Conservative
My Way News - Economic stimulus package on track for final votesEconomic stimulus package on track for final votes
WASHINGTON (AP) - Economic stimulus legislation at the heart of President Barack Obama's recovery plan is on track for final votes in the House and Senate after a dizzying final round of bargaining that yielded agreement on tax cuts and spending totaling $789 billion.
The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.
Officials estimated it would mean about $13 a week more in people's paychecks when withholding tables are adjusted in late spring. Critics say that's unlikely to do much to boost consumption.
So, for all of you that poo-pooed the $300 stimulus checks from the Bush tax cuts -- what do you think of this?