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Stimulus Legislation Could Be Introduced As Soon As Monday
January 09, 2009 3:52 PM
The Obama Transition Team, working with key Democratic congressional allies, plans to introduce the actual stimulus package legislation on Capitol Hill likely next week -- perhaps as soon as Monday.
Larry Summers, the pending chair of the National Economic Council, and Phil Schiliro, the pending Assistant to the President for Legislative Affairs in the Obama Administration, have been on Capitol Hill working with Democrats and Republicans in both the House and Senate, to draft the legislation. Which legislator introduces the actual bill is still being worked out.
The House of Representatives is planning on holding hearings on the plan next week, with the Ways and Means Committee taking the lead on the tax component of the bill, which could amount to $310 billion worth of tax cuts for businesses and individuals. "Markups" (read: revisions) of the bill will likely take place on the Wednesday or Thursday after the Inaugural.
The House hopes to vote on the stimulus package during the week of January 26, with the Senate voting shortly thereafter. Congressional leaders hope to have the bill on the President's desk by Presidents' Day.
- jpt
January 9, 2009 | Permalink | Share | User Comments (7)
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I agree with you. Why is no one looking into finding where everything broke and then holding those with dirty hands accountable?
Oh-and they won't go to a "real" jail.
Posted by: waitingf4theworld2change | Jan 10, 2009 3:11:37 PM
It looks to me that noone wants to fix the problem.....just throw $$ after $$ into a bottomless pit. Thats making matters worse. Instead of the armchair BS how about some answers instead of accusations. Anybody here besides me what to know why they let this get to where we are now? Time for answers and stop the "Fast Track" to more $$ into the Abyss!! This is utter nonsense!!
Posted by: commrat72 | Jan 10, 2009 10:31:53 AM
Liz; I welcome an investagation but you will be surprised at the outcome. Barney Fife and Chris Dudd are up to their necks in Fannie/ Freddie scam. Kickbacks, perks and lovers(eh, Barney?)
are just some of the woes to come out of this. Why is it that you Dems can't realize that the Bush went to Congress and tried to warn of the upcoming fiasco but was promptly put down by both Chris and Barney? I say bring it on and if you have dirty hands;GOP or DEM, off to jail you go and give back every cent in lobby, kickbacks, property ..... everything you got since day one of your attack on the American people you broke your pledge to!! This scam shouldn't have anything or kind of thing to do with party lines. Trust has been broken and its time to pay in full. How can we fix it if we don't know where it broke at?
Posted by: commrat72 | Jan 10, 2009 10:20:52 AM
President Obama, sounds so nice to me, there is nothing more to be done than a bit of magic I hope after the thorough ruining of everything by the Bush Admin. These people should be prosecuted to the full extent of the law! If we leave things as they are we will surely not make it thru this recession and it will be a depression and most of the folks on this blog are republicans with blinders on, you would cut off your nose to spite your face! you all better pray Obama has something up his sleeve. All I see is folks trying to paint him as corrupt because of chicago politics. This is really stupid, and not productive. The old DUMMY GW is the one to blame I will be celebrating on 1-20-09 and we will have our new INTELLIGENT President and we sorely need him.
Posted by: Liz | Jan 9, 2009 10:16:02 PM
The NYT reports that it will increase the tax on cigarettes. Kind of seems a little mean to take that away from the poor.
Posted by: BertieW | Jan 9, 2009 7:54:22 PM
He not even a President yet. This is going too fast. We don't know what is on the bill. Yes, they will raise the tax. Hope the Republicans will vote against the stimulus package bill. The Democrat Congress are the loser. Glad I didn't vote for him because he came from Chicago.
Posted by: anonymous | Jan 9, 2009 4:43:48 PM
The dollar is toliet paper and isn't worth anything. He'd be better off giving out coins in gold and silver instead. If you give out piles of worthless currency, all your doing is creating more debt on top of existing debt, with NO discernible positve impact on those who hold those dollars. If you print and hand out more money, the value of it goes down!!! Has logic escaped EVERYBODY in Washington... It sure seems so. Unfortunately, intentional mismanagement of the economy is NOT party specific! Translation: "Meet the new dummy same as the old dummy!" The best thing he could do as well as the rest of the thieves in Washington is... Nothing!
Posted by: please! | Jan 9, 2009 4:28:05 PM
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