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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  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  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 , 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:
 Associated Press: http://www.msnbc.msn.com/id/22782454/
 unemployment insurance benefits: http://www.heritage.org/Research/Economy/wm1777.cfm
 was to sign off on any deal: http://www.bloomberg.com/apps/news?pid=20601087&sid=aGbaLOawEXME&refer=home
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