House passes economy stimulus package

[canoeist52]

House passes economy stimulus package
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House passes economy stimulus package

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WASHINGTON (AP) -- The House, seizing a rare moment of bipartisanship to respond to the economy's slump, overwhelmingly passed a $146 billion aid package Tuesday that would speed rebates of $600-$1,200 to most taxpayers.

The plan, approved by a yes-no margin after little debate, would send at least some rebate to anyone with at least $3,000 in income, with more going to families with children and less going to wealthier taxpayers.

It faced a murky future in the Senate, though, where Democrats and Republicans backed a larger package that adds billions of dollars for senior citizens and the unemployed, and shrinks the rebate to $500 for individuals and $1,000 for couples. That plan, written by Finance Committee Chairman Max Baucus, would deliver checks even to the richest taxpayers, who are disqualified under the House-passed measure.

Both versions would provide tax breaks to businesses to spur equipment and other purchases.

[canoeist52]

1. "The sooner we get this relief in the hands of the American people, the sooner they can begin to do

their job of being good consumers," Rep. John A. Boehner, R-Ohio

[Iwasthere]

2. Sorry, I will NOT be a good consumer, I am putting it into savings in so I can pay it back

IT IS A LOAN PEOPLE! Spread the word