Thursday, January 31, 2008

News: Senate Takes Up Its Economic Stimulus Plan Today

The Senate Finance Committee will be presenting an economic stimulus plan that differs from the House plan. The Senate plan will include additional money for retired people, disabled veterans and extends unemployment insurance benefits. The Senate will vote on the plan today.

Here are the differences in the plan:
Rebates House -- $600 per individual, $1,200 per couple, plus $300 per child Senate -- $500 per individual, $1,000 per couple, plus $300 per child
Shot in arm House -- $146 billion Senate -- $200 billion
The cutoff House -- $75,000 per individual, or $150,000 a couple Senate -- $150,000 per individual, or $300,000 a couple
Seniors, veterans -- The Senate version would extend rebates to 20 million seniors and 250,000 disabled veterans who are ineligible under the House plan
Total Cost of Plan--House $146 bn -- Senate $157 bn

Read more:


Anonymous said...

How about an intelligent compromise between the two versions-- Allow social security to count toward the $3000 minimum income necessary to allow more seniors to receive this, but place the cutoff back down at $75,000 per individual and $150,000 per household. And this is coming from someone who earned $75,700 last year...

Julia Leggett, Policy Coordinator said...

I would be fine with a compromise. Unfortunately based on what happened during the previous budget session, the Bush Administration is already threatening a veto if they do not receive the House package.