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Dems got what they wanted in the package. The 42% tax cuts are their proposals

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-06-09 11:39 PM
Original message
Dems got what they wanted in the package. The 42% tax cuts are their proposals
Still unclear is what the Senate will do with popular tax breaks -- for home and auto purchases -- that received wide support on the Senate floor. Some senators suggested those provisions would still remain in play, as efforts to meld the House and Senate bills begin.

Even a scaled-down Senate package, if passed, would likely be broadly consistent with the House-passed bill, and well within the range of what Mr. Obama originally called upon Congress to approve.

The new plan would still provide an array of tax cuts for individuals and business, aid to cash-strapped states, and billions of dollars in new spending, boosting support for jobless benefits, food aid for the poor, and road and bridge construction, among other things.

If the Senate passes a plan, it would set up private House-Senate negotiations, which are expected to begin next week. That will be where Mr. Obama and senior Democrats could exert far more influence on the details of the final package, amid efforts to conclude action by the end of the week.

link


The Republican bills were rejected, including this monstrosity. The Repubs did get in the housing credit (most Dems voted for it), but that will likely be changed in Conference.

The majority of the 42% tax cuts in the bill are those proposed by Dems. They have nothing to complain about.





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Dragonfli Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-06-09 11:43 PM
Response to Original message
1. Good ! that means that the money is still there for education
and wasn't funneled to nukes or anything.
Thanks! I feel much better now, hell only half the people I know are counting on the construction work that will be provided via fixing our crumbling schools in Buffalo - I guess that is still there as well!
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sandyd921 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-06-09 11:53 PM
Response to Original message
2. Problem is a bill with this much in tax cuts
may not work. If the figures I heard on Rachel Maddow tonight are correct, without more real stimulus (in other words spending), I'm not hopeful for this. She said for every $1 spent on tax cuts we earn only $1.02 in stimulus. For every $1 used for spending the return is $1.50? (can't remember the exact amount but is was 1.50 something).
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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-06-09 11:57 PM
Response to Reply #2
3. she mentioned food stamps too.
they really stimulate the economy, but it looks like they were cut.
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Dragonfli Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-07-09 12:14 AM
Response to Reply #3
4. She listed food stamps as giving the best return I believe - ironic
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jwirr Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-07-09 12:15 AM
Response to Reply #3
5. Also EIC is a stimulus as it goes to the people most likely to spend it. nt
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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-07-09 01:11 AM
Response to Original message
6. Here's what was cut
to make way for dumb-ass tax cuts to buy cars and houses when people can't get loans because they don't have jobs, and I don't care who proposed them, they're stupid.

$300 million to modernize USDA 100% cut
$100 million research USDA 100% cut
$750 million NASA 50% cut
$1.4 billion, Nat Science Foundation, 100% cut
$427 million, NOAA, 35% cut
$150 million, VAWA, 50% cut
$450 million, Police wireless radios, 50% cut
Rural Drug Enforcement, Border gunner program, internet crimes, etc., 50% cut
$1 billion, Renewable Energy, 40% cut
$4.5 billion, EISA energy loan guarantees, 50% cut
$600 million, Utah project, CA Delta project, Uranium decontamination, DoE Off Science, 100% cuts
Homeland Security, $122, 5 million for icebreakers, $14 million cyber security, 100% cut
$55 million, Historic Preservation, 100% cut
$20 million, Interior financial system upgrade, 100% cut
$150 million, Smithsonian Upgrades, 100% cut
$140 million, SSA IT upgrade, 100% cut
$25 billion, state stabilization, 100% cut
$14 billion, head start, idea, Title I, teaching grants, 50% cut
$5 billion, Wellness & Prevention, HIV, Diabetes screen, smoking, flu, etc., 90% cut
$200 million Filipino vets, 100% cut
$600 million, State Dept, IT upgrades, cyberspace initiative, consular programs, US-Mexico water program, 100% cut
$5.5 billion, Transportation HUD, 100% cut
Pell Grants & Child Care were left alone




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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-07-09 11:44 AM
Response to Reply #6
7. Let's look at the 90%-100% cuts
Edited on Sat Feb-07-09 11:46 AM by ProSense
$300 million to modernize USDA 100% cut
$100 million research USDA 100% cut

$750 million NASA 50% cut
$1.4 billion, Nat Science Foundation, 100% cut
$427 million, NOAA, 35% cut
$150 million, VAWA, 50% cut
$450 million, Police wireless radios, 50% cut
Rural Drug Enforcement, Border gunner program, internet crimes, etc., 50% cut
$1 billion, Renewable Energy, 40% cut
$4.5 billion, EISA energy loan guarantees, 50% cut
$600 million, Utah project, CA Delta project, Uranium decontamination, DoE Off Science, 100% cuts
Homeland Security, $122, 5 million for icebreakers, $14 million cyber security, 100% cut
$55 million, Historic Preservation, 100% cut
$20 million, Interior financial system upgrade, 100% cut
$150 million, Smithsonian Upgrades, 100% cut
$140 million, SSA IT upgrade, 100% cut
$25 billion, state stabilization, 100% cut

$14 billion, head start, idea, Title I, teaching grants, 50% cut
$5 billion, Wellness & Prevention, HIV, Diabetes screen, smoking, flu, etc., 90% cut
$200 million Filipino vets, 100% cut
$600 million, State Dept, IT upgrades, cyberspace initiative, consular programs, US-Mexico water program, 100% cut
$5.5 billion, Transportation HUD, 100% cut

Pell Grants & Child Care were left alone

Other than the wellness and prevention Doesn't appear to be a lot of peopls-oriented relief or significant job stimulus. They cut funding levels on some programs, but the Senate package still has a lot in it, and we'll see what happens in Conference with the House bill. This is the biggest spending bill in decades, and the package consists of primarily Dems' tax cut proposals (relief for low and middle income persons).

On edit: the Filipino vet provision was also cut.




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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-07-09 12:00 PM
Response to Reply #7
9. We need to get these back in the House
Repeating Republican talking points is not going to help us save some of these programs.
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Uzybone Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-07-09 11:48 AM
Response to Original message
8. I know we have won...will win this fight
but its depressing to see how almost half this country's representatives are hell bent on ruining all our lives. I hope the few moderate republicans left defect from the shit hole called the GOP. They are entirely irresponsible. The entire world sees it now.
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