Dems Muscle Stimulus Through Congress
Less than a month in office, President Barack Obama has scored a key legislative win. A $787 billion stimulus bill has cleared Congress.
It's hoped the massive package will help stave off the effects of the worst economic downturn since the Great Depression.
It cleared the Senate 60-to-38.
Friday night's winning vote came just before 11 p.m. when Ohio Democrat Sherrod Brown voted "aye." The vote had been held open so that Brown could attend his mother's memorial in Ohio. Three Republican moderates sided with Democrats in the Senate. But earlier in the House, Republican opposition was unanimous.
Supporters say the legislation could save or create 3.5 million jobs. But Republicans complain the legislation is weighed down with spending.
The legislation is among the costliest ever considered in Congress. It provides billions of dollars to aid victims of the recession through such things as unemployment benefits, food stamps, medical care and job retraining. It also sends aid to the states, and includes tax cuts, which Democrats say will help 95 percent of all Americans.
The measure will be signed into law in a few days by the president, who is spending the holiday weekend back in Chicago.
The 1,071 page, 8-inch-thick measure that combines $281 billion in tax cuts for individuals and businesses with more than a half-trillion dollars in government spending. The money would go for infrastructure, health care and help for cash-starved state governments, among scores of programs. Seniors would get a $250 bonus Social Security check.
Told that no Republican backed the measure, White House press secretary Robert Gibbs reacted by citing another number: "3.5 million jobs that we look forward to saving or creating."
Republicans said the package won't work because it has too little in tax cuts and spreads too much money around to everyday projects like computer upgrades for federal agencies.
"This legislation falls woefully short," said House GOP Leader John Boehner of Ohio. "With a price tag of more than $1 trillion when you factor in interest, it costs every family almost $10,000 in added debt. This is an act of generational theft that our children and grandchildren will be paying for far into the future."
The final $787 billion measure has been pared back from versions previously debated in order to attract support from three Senate GOP moderates - Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania. Their help was essential to meeting a 60-vote threshold in the Senate. The bill originally passed the Senate by a 61-37 tally, but Sen. Edward Kennedy, D-Mass., suffering from brain cancer, did not vote Friday night.
Sen. Judd Gregg, R-N.H., who withdrew his nomination to be Obama's Commerce secretary, said he would vote against the bill.
Democrats lavished praise on the measure, which combines tax cuts for workers and businesses with more than a half-trillion dollars in government spending aimed at boosting economic demand.
"By investing in new jobs, in science and innovation, in energy, in education ... we are investing in the American people, which is the best guarantee of the success of our nation," said House Speaker Nancy Pelosi, D-Calif.
The plan is the signature initiative of the fledgling Obama administration, which is betting that combining tax cuts of $400 a year for individuals and $800 for couples with an infusion of spending for unemployment assistance, $250 payments to people on Social Security, and extra money for states to help with the Medicaid health program for the poor and disabled will arrest the economy's fall.
Local school districts would receive $70 billion in additional funding for K-12 programs and special education and to prevent cutbacks and layoffs and repair crumbling schools. There's about $50 billion for energy programs, much of which goes to efficiency programs and renewable energy.
Some $46 billion would go to transportation projects, not enough to please many lawmakers.
Negotiators insisted on including a $70 billion tax break to make sure middle- to upper-income taxpayers won't get hit by the alternative minimum tax and forced a reduction of Mr. Obama's signature tax break for 95 percent of workers.
The AMT was designed 40 years ago to make sure wealthy people pay at least some tax, but is updated for inflation each year to avoid tax increases averaging $2,300 a year. Fixing the annual problems now allows lawmakers to avoid difficult battles down the road, but economists say the move won't do much to lift the economy.
Republicans pointed out a bevy of questionable spending items that made the final cut in House-Senate negotiations, including money to replace computers at federal agencies, inspect canals, and issue coupons for convertor boxes to help people watch TV when the changeover to digital signals occurs this summer.
"This measure is not bipartisan. It contains much that is not stimulative," said Sen. John McCain, R-Ariz., Obama's rival for the White House. "And is nothing short - nothing short - of generational theft" since it burdens future generations with so much debt, he added.
© 2009 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report. It's hoped the massive package will help stave off the effects of the worst economic downturn since the Great Depression.
It cleared the Senate 60-to-38.
Friday night's winning vote came just before 11 p.m. when Ohio Democrat Sherrod Brown voted "aye." The vote had been held open so that Brown could attend his mother's memorial in Ohio. Three Republican moderates sided with Democrats in the Senate. But earlier in the House, Republican opposition was unanimous.
Supporters say the legislation could save or create 3.5 million jobs. But Republicans complain the legislation is weighed down with spending.
The legislation is among the costliest ever considered in Congress. It provides billions of dollars to aid victims of the recession through such things as unemployment benefits, food stamps, medical care and job retraining. It also sends aid to the states, and includes tax cuts, which Democrats say will help 95 percent of all Americans.
The measure will be signed into law in a few days by the president, who is spending the holiday weekend back in Chicago.
The 1,071 page, 8-inch-thick measure that combines $281 billion in tax cuts for individuals and businesses with more than a half-trillion dollars in government spending. The money would go for infrastructure, health care and help for cash-starved state governments, among scores of programs. Seniors would get a $250 bonus Social Security check.
Told that no Republican backed the measure, White House press secretary Robert Gibbs reacted by citing another number: "3.5 million jobs that we look forward to saving or creating."
Republicans said the package won't work because it has too little in tax cuts and spreads too much money around to everyday projects like computer upgrades for federal agencies.
"This legislation falls woefully short," said House GOP Leader John Boehner of Ohio. "With a price tag of more than $1 trillion when you factor in interest, it costs every family almost $10,000 in added debt. This is an act of generational theft that our children and grandchildren will be paying for far into the future."
The final $787 billion measure has been pared back from versions previously debated in order to attract support from three Senate GOP moderates - Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania. Their help was essential to meeting a 60-vote threshold in the Senate. The bill originally passed the Senate by a 61-37 tally, but Sen. Edward Kennedy, D-Mass., suffering from brain cancer, did not vote Friday night.
Sen. Judd Gregg, R-N.H., who withdrew his nomination to be Obama's Commerce secretary, said he would vote against the bill.
Democrats lavished praise on the measure, which combines tax cuts for workers and businesses with more than a half-trillion dollars in government spending aimed at boosting economic demand.
"By investing in new jobs, in science and innovation, in energy, in education ... we are investing in the American people, which is the best guarantee of the success of our nation," said House Speaker Nancy Pelosi, D-Calif.
The plan is the signature initiative of the fledgling Obama administration, which is betting that combining tax cuts of $400 a year for individuals and $800 for couples with an infusion of spending for unemployment assistance, $250 payments to people on Social Security, and extra money for states to help with the Medicaid health program for the poor and disabled will arrest the economy's fall.
Local school districts would receive $70 billion in additional funding for K-12 programs and special education and to prevent cutbacks and layoffs and repair crumbling schools. There's about $50 billion for energy programs, much of which goes to efficiency programs and renewable energy.
Some $46 billion would go to transportation projects, not enough to please many lawmakers.
Negotiators insisted on including a $70 billion tax break to make sure middle- to upper-income taxpayers won't get hit by the alternative minimum tax and forced a reduction of Mr. Obama's signature tax break for 95 percent of workers.
The AMT was designed 40 years ago to make sure wealthy people pay at least some tax, but is updated for inflation each year to avoid tax increases averaging $2,300 a year. Fixing the annual problems now allows lawmakers to avoid difficult battles down the road, but economists say the move won't do much to lift the economy.
Republicans pointed out a bevy of questionable spending items that made the final cut in House-Senate negotiations, including money to replace computers at federal agencies, inspect canals, and issue coupons for convertor boxes to help people watch TV when the changeover to digital signals occurs this summer.
"This measure is not bipartisan. It contains much that is not stimulative," said Sen. John McCain, R-Ariz., Obama's rival for the White House. "And is nothing short - nothing short - of generational theft" since it burdens future generations with so much debt, he added.
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As always today Hillary Clinton is not vacationing, nor taking time off. Hillary is hard at work Saving The World.
When the world needs help, when the world sends a call for help like a mythical Batsignal in the night, that S.O.S. morse code message is answered by S.O.S. herself - Hillary Clinton.
As always today Hillary Clinton is not vacationing, nor taking time off. Hillary is hard at work Saving The World.
When the world needs help, when the world sends a call for help like a mythical Batsignal in the night, that S.O.S. morse code message is answered by S.O.S. herself - Hillary Clinton.
As always today Hillary Clinton is not vacationing, nor taking time off. Hillary is hard at work Saving The World.
When the world needs help, when the world sends a call for help like a mythical Batsignal in the night, that S.O.S. morse code message is answered by S.O.S. herself - Hillary Clinton.
As always today Hillary Clinton is not vacationing, nor taking time off. Hillary is hard at work Saving The World.
When the world needs help, when the world sends a call for help like a mythical Batsignal in the night, that S.O.S. morse code message is answered by S.O.S. herself - Hillary Clinton.
As always today Hillary Clinton is not vacationing, nor taking time off. Hillary is hard at work Saving The World.
When the world needs help, when the world sends a call for help like a mythical Batsignal in the night, that S.O.S. morse code message is answered by S.O.S. herself - Hillary Clinton.
As always today Hillary Clinton is not vacationing, nor taking time off. Hillary is hard at work Saving The World.
When the world needs help, when the world sends a call for help like a mythical Batsignal in the night, that S.O.S. morse code message is answered by S.O.S. herself - Hillary Clinton.
I hate to break the Yankee''s intelligence. However the actual cause was taxation by the yankees over the south agricultural needs being purchased from europe instead of the yankee land.
The federal government was deep in debt form the WAR of 1812 and needed money. The easiest was was to have a very heavy import tax.
And the tax was aimed straight at the south and after several years of this tax the revolt happened.
Since this HUGE PORK BILL passed, the yankee should be aware that history has repeated its self several times.
I hate to break the Yankee''s intelligence. However the actual cause was taxation by the yankees over the south agricultural needs being purchased from europe instead of the yankee land.
The federal government was deep in debt form the WAR of 1812 and needed money. The easiest was was to have a very heavy import tax.
And the tax was aimed straight at the south and after several years of this tax the revolt happened.
Since this HUGE PORK BILL passed, the yankee should be aware that history has repeated its self several times.
- Frank Rich, New York Times
~hic~