dstark

"Stimulus package:


Congressional leaders have reached a deal with the White house on a bipartisan economic stimulus package that is expected to move swiftly through Congress and give most tax filers rebates of $600 to $1,200.


WHAT'S IN

_Tax rebates: Checks of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007. Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates. The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children.

_Business tax write-offs: Spurring business investments with so-called bonus depreciation and more generous expensing rules.

_Housing rescue: Raising the limit on Federal Housing Administration loans from $362,000 to $725,000. Boosting the cap on loans that Fannie Mae and Freddie Mac can buy from $417,000 to $725,000."

dstark

"WHAT'S OUT

_Permanent tax cuts: Republicans conceded that their top priority would have to be left out.

_Unemployment insurance: Democrats wanted to extend benefits past 26 weeks.

_Food stamps: A boost for benefits.

_Medicaid: Democrats gave up on including Medicaid payments to states.

_Low-income heating subsidies: Democrats are surrendering the fight to include them.

_Infrastructure spending: Spending on transportation or repair projects already under way is off the table.

_Republicans' proposal to allow businesses suffering losses now to reclaim taxes previously paid was dropped."

zoosermom

Dstark, do you have a link?

barrons

Wow on the home loan limits increasing. That will make loans much easier to get in high priced markets like California and NY/NJ/CT. RE brokers, get the car detailed and turn off Oprah. Time to get back to work. No plasma tv.

dstark

Yeah Barrons, a government bailout.

I'm glad you are appreciative.

dstark

Stimulus package: What's in and out - Yahoo! News

fundingfather

There goes my plasma TV.

dstark

I already bought my tv a few days ago. Maybe I should return it.

barrons

The government giveth and it taketh. The limits on loans really hurt the high priced markets for no policy reason and probably helped lead some people into the bad loans we hear so much about. They are just giving residents of high cost states equal treatment to those everywhere else. I'd call it fairness.

gottaloveucla

It says a lot about the Republicans that they wouldn't want these things.

mini

"I already bought my tv a few days ago. Maybe I should return it."

I can recommend my Konka. (with a little left over for a Value Village sweater. )

curlygirl61

Are this income amounts adjusted gross or gross income?

younghoss

I think it does, too, gotta. But while I am a blue collar worker, I agree with most items considered on the "Republican Platform" and I am geussing what it says to me is different than what it says to you.

barrons

The Democrats got more for people with more children and a cap on those who get anything. It was a fair deal. Unemployment is not really high yet and new claims are actually down despite all the doom and gloom.

dstark

Barrons, why can't you just admit real estate was given a government bailout?

There are always reasons why the government bails something out. Always.

gottaloveucla,
I noticed that too.