Of the stimulus!
As far as it's impact on many Americans...
Give-and-take resolves differences in plans
The White House and congressional leaders agreed Wednesday on a two-year, $790 billion economic stimulus plan. Here's how some of the differences between the House and Senate bills were resolved:
Provisions Details Context
Total tax cuts $282 billion in total tax cuts, about 35% of the compromise bill Slightly more than the House bill
"Making Work Pay" tax credit Individuals would get $400, families $800 in 2009 and 2010 $100 less per individual and $200 less per couple than proposed in both bills, saving about $30 billion
Alternative Minimum Tax fix $70 billion for a tax break to protect 24 million families from higher AMT The final bill retains this Senate provision, not in the House bill
Social Security One-time $250 payment to recipients of Social Security, Supplemental Security Income and veterans pensions and disability Less than what was contained in the Senate and House bills, but it provides money to more recipients
Home buyer tax credit A new $8,000 tax credit for buyers of new or existing homes Down from $15,000 added in the Senate
New car sales tax deduction Allows taxpayers to deduct the sales tax paid on new car purchases Removes Senate provision to make interest on auto loans deductible
Transportation infrastructure $50 billion for highways, bridges, mass transit, high-speed rail and airports Slightly more than the amount proposed in each bill
Education, other aid for states $54 billion in aid for states; $10 billion can go to modernize schools House bill was $79 billion; Senate bill was $39 billion
Energy assistance About $50 billion, including $11 billion for electricity grid, $5 billion to insulate homes and $5 billion to fix federal buildings Retained most of the funding sought by President Obama for future investments
Broadband Internet service $7 billion to expand broadband service, particularly to rural areas Another Obama priority retained in both the House and Senate bills
Sources: The Associated Press and USA TODAY research
I'm sure you all have an opinion on this subject, everyone does because it affects us all!
And hey, if you come buy a car from me you will be able to write off the sales tax on your taxes for 2009!![]()
"The question isn't what are we going to do today, the question is what aren't we going to do today"-Ferris Buehler<p>T.T.Y.L. Greg
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