Blogs » Politcs Plus » A summary of the Democrat house stimulus plan


This is the rough draft of proposals to stimulate the economy as the democrats see it. This will have to be debated and sent over to the senate for their debates.This looks like (as promised) to be a top heavy infrastructure repair proposal.

I do not see the corporate tax cuts the GOP wanted nor did I see the repeal of Bush's 2001 tax cuts..Is that a compromise?

What do you thinK?

WASHINGTON (MarketWatch) -- Here is a summary of the $825 billion spending and tax cut plan released Thursday by House Democrats.
Democrats are planning to spend about $550 billion spread across several areas including:
  • $90 billion on highway construction, energy-efficiency, clean water and transit projects.
  • $54 billion on boosting renewable energy production and renovating public buildings.
  • $141.6 billion on repairing and modernizing schools, as well as fiscal relief to states to prevent cutbacks in services.
  • $102 billion on unemployment benefits, healthcare retention and increasing food stamp benefits.
  • $91 billion in relief to states, including a temporary increase in the Medicare matching rate.
The $275 billion in tax provisions include:
  • A $500-per-worker and $1,000-per-family tax credit.
  • Eliminating a requirement to repay a $7,500 tax credit for homes purchased after 2008 and before July 2009.
  • A $2,500 tax credit for the first four years of higher education expenses.
  • Business provisions including bonus depreciation, a five-year carryback of net operating losses and increased small business expensing.

End of Story