Agreement Actually Reached Now on Stimulus Package
The NY Times is reporting that an agreement between House and Senate has been hammered out on the Stimulus Bill. Harry Reid announced the accord earlier today at a press conference but nobody checked with Nancy Pelosi. She was still dealing.
Even after Mr. Reid’s announcement, House Democrats reportedly held out for some changes important to them, including more money for school renovations.
The final price tag is now being quoted at $789 billion because, well, you know $800 billion, according to Susan Collins, is a LOT of money.
There are not a lot of details at this point - apparently $150 billion will go to infrastructure and transportation systems which, by my counting, is somewhat more than originally proposed in either deal. Additionally the bill includes fairly substantial aid to state governments, although not as much as governors were hoping for. Removed from the final version, I was happy to see, were large tax credits aimed at home buyers and car purchasers. The home buyers credit made no sense (and could be termed the “swap houses with my cousin” provision) and the car credit just helps to bail out the auto industry for bad decisions in car design. Let the dealers eat rebates.
In the end, nobody was especially happy with the results but isn’t that the definition of a good compromise?
Posted by marindenver on 02/11/09 at 09:14 PM • Permalink
Categories: Politics • Election '08 • Barack Obama •

