Wednesday, February 6, 2008

Republicans Join to Block Stimulus Bill

The fate of the economic stimulus plan proposed by President Bush is in jeopardy after Senate Republicans blocked the Senate’s version of the economic stimulus plan. The proposed changes by the Senate would have reduced the tax rebate checks from $600 per person and $1,200 per couple to $500 per person and $1,000 per couple and doubled the income eligibility caps for the rebate checks from $75,000 per person and to $150,000 per person. The Senate proposal would have also extended unemployment benefits for 13 weeks, given $1 billion in heating aid the poor, and it would have included the elderly and disabled veterans for tax rebates.

Now the Senate democrats are faced with the difficult choice to either quickly accept a House bill they deem inadequate or risk being blamed for delaying a measure that both the House and Senate agree is necessary to help the lagging economy.

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