It appears that there has been an agreement reached between the House and Senate on the stimulus bill. Yahoo has a summary article. Here are some of the highlights:
- Cost: $780 Billion – That’s an increase of about 7.3% to the National Debt.
- Breakdown: 1/3 Tax Cuts and 2/3 Spending
- Medicaid: $90 Billion to help states with funding – something that should have been in a separate bill.
- Education: $10 Billion on program to assist low-income students – another for a separate appropriations bill.
- Infrastructure: $150 Billion – $50 Billion of that is transportation infrastructure.
- Tax Cuts: $400/year credit that applies to 95% of workers – Yes, that’s our direct share out of the $780 Billion bill.
- Timeline: Some construction projects could begin in 90 days – unfortunately, no details on how soon the jobs will end.
It is disappointing to still see a lot of items that should have been in separate appropriations bills. Many such items could stand on their own merit instead of being tagged onto an ‘emergency stimulus bill’. I guess it goes to show that there isn’t a bill that a politician can’t find a way to stick a rider to.
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Posted under Economy
Written by admin on February 12, 2009
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I’m holding out hope that they bailout my college debt.