The House passed a stimulus package of $146 billion by an overwhelming 385-35, in an effort to help battle the possibility of a recession. While the initial cost is $146 billion, it will add another $15 billion next year, according to the most recent estimates by the Joint Tax Committee.
All of this is in hope the rebates will be spent by consumers and the tax breaks encourage businesses to spend on new plants and equipment.
The senate promises to get on it right away, but Democrat Harry Reid says they're probably going to add amendments to it, which could slow down the bill. That is just plain stupid and typical of what some politicians addicted to spending just can't get over.
Here we have a serious circumstance, and they can't pass up on a chance to add irrelevant amendments like money given to highways and roads, among other things. They can take that up another time. If they're going to pass the bill, they just need to do it, not play around with their political nonsense.
Besides the pork amendments, some other things the Senate is considering is doing is extending unemployment benefits, which also has absolutely nothing to do with stimulating the economy.
Other changes are to increase the benefit to $500 per individual and $1,000 per couple, for those making a minimum of $3,000. Seniors receiving Social Security income would also be added to the rebate program under the Senate version.
They expect to take up the issue on Wednesday. President Bush urges quick action and not delaying the bill through adding to it.
House Republican Leader John Boehner and House Speaker Nancy Pelosi both urge that the Senate accept the House package and act on it quickly.
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