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It Could Have Been Worse...

Posted By Conn Carroll On January 24, 2008 @ 11:08 am In Ongoing Priorities | Comments Disabled

The Associated Press [1] is reporting that Democratic and Republican lawmakers have reached a tentative deal today on a stimulus package. First the good news: the giveaway does not include money for food stamps, unemployment insurance benefits [2] or infrastructure projects. Also, although it is not mentioned in the AP story, we hear the deal does include some pro-growth tax cuts including accelerated depreciation for businesses.

Now the bad: the give away does include $300 checks for everyone receiving a paycheck regardless of whether they pay income taxes or not. Also only individuals earning less than $75,000 and couples earning less than $150,000 are eligible.

Considering how eager Treasury Secretary Henry Paulson was to sign off on any deal [3], deficit hawks in Congress did a good job of keeping the overall damage to a minimum so far.

Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2008/01/24/it-could-have-been-worse/

URLs in this post:

[1] Associated Press: http://www.msnbc.msn.com/id/22782454/

[2] unemployment insurance benefits: http://www.heritage.org/Research/Economy/wm1777.cfm

[3] was to sign off on any deal: http://www.bloomberg.com/apps/news?pid=20601087&sid=aGbaLOawEXME&refer=home

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