Latest News On The Stimulus Bill

by MB on February 7, 2008

UPDATE: The House and Senate have passed the final version of the Stimulus Bill. You can read the details in this post: Details on Final Stimulus Bill.

The Senate failed to pass their expanded version of the House stimulus plan last night.

From The Wall Street Journal:

Supporters of the Senate bill fell one vote short of the 60 needed to advance it, as most Republicans stuck together to oppose a plan for rebate checks of at least $500 to an estimated 135 million households in this election year. Eight Republicans broke with their leadership and supported the bill, including four who are up for re-election.

In order for the Senate to meet their goal of presenting a bill to President Bush by mid-month, it now appears they will need to more closely align their package with the one passed by the House.

The Senate bill had proposed expanding the benefits to $205 billion over two years, from the House plan that would cost an estimated $161 billion. The added proposals would have provided additional benefits for Social Security recipients and disabled veterans, as well as extending unemployment insurance and giving tax breaks to companies with operating losses.

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