8 February 2008
With amazing speed Congress approved a $168 billion stimulus package. A plan that seemed to have ground to a halt was was passed. In a meeting of the minds, lawmakers passed a bill favored by the Democrats which was higher than the Republicans wanted. This bill will give $300 to low income seniors and the same to disabled veterans who have no earned income. I’m not sure the the money will cause a rush of springtime spending as Bush hopes but it will help a lot of people. It seems to be a step in the right direction for bipartisan agreement.
Single people with incomes of $75,000 and couples with incomes above $150,000 will receive reduced payments. The richest taxpayers will receive nothing and neither will illegal immigrant workers. A larger plan which would have included extended unemployment benefits and home-energy subsidies was cast aside for the less expensive package. Democrats plan to offer a separate bill that will provide assistance to help homeowners who are facing foreclosure. I, for one, was surprised and pleased at how quickly this bill was passed.
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