The Senate just voted to invoke cloture on the $829 billion Nelson-Collins substitute amendment to H.R. 1, the economic stimulus package. The final vote tally was 61-36. Sixty votes were required for the motion to pass. All Democrats voted in favor; only three Republicans joined the Democrats in voting to advance the bill.Read Full Article Comments (18)
With five days to go before the President's Day recess, the Senate is running full steam ahead to pass the the stimulus package this week and begin the reconciliation process with the House. Late Friday night, a bipartisan compromise, led by Senators Ben Nelson (D-NE) and Susan Collins (R-ME), was announced that would cut $83 billion from the spending portion of the stimulus. The bulk of the cuts would come from the State Fiscal Stabilization Fund, which provides support for state and local education programs. The Nelson-Collins version of the bill, in the form of a substitute amendment, will face its first test, a procedural vote with a 60-vote threshold, this evening. If that is passed, the bill will be put to a final vote on Tuesday.Read Full Article Submit a Comment
"Bipartisan negotiators appear to have reached a compromise on cutting as much as $140 billion from the Senate economic stimulus bill, but the plan needs to be vetted with rank-and-file Democrats before an official deal can be announced."Read Full Article Comments (9)
MSNBC's First Read reports that the Nelson/Collins proposal for cutting approximately $100 billion from the stimulus package is complete. The proposal will be introduced as an amendment and voted on later tonight, though there might not be enough support for it to pass (more on how voting is shaping up here).
There has not been an official announcement of what will be in the amendment, but Greg Sargent at The Plum Line has obtained an internal Senate committee memo, circulated this morning, that is probably pretty close:
At the request of Commerce Secretary-designate Judd Gregg, the Congressional Budget Office has run a macroeconomic analysis to the Senate's version of the stimulus. The analysis is chock full of caveats - "the macroeconomic impacts of any economic stimulus program are very uncertain," "economic theories differ," etc. - but since the CBO is the official, non-partisan agency for scoring legislation, any report they issue is worth a gander. One of the key findings is that the short-term stimula...Read Full Article Comments (7)
A bipartisan group of centrist senators, including Sen. Ben Nelson [D, NE], Sen. Susan Collins [R, ME], and others, is circulating a discussion document that suggests cutting $77.9 billion of spending from the stimulus package. The ad-hoc coalition, led by Sen. Nelson, has come together to "cut out spending that doesn't deal with the immediate economic troubles we face." Their cuts they suggest are focused mainly on education funding.Read Full Article Comments (2)
TARP Recipients Paid Out $114 Million for Politicking Last Year: >Beneficiaries of the $700 billion bailout package in the finance and automotive industries have spent a total of $114.2 million on lobbying in the past year and contributions toward the 2008 election, the nonpartisan Center for Responsive Politics has found. The companies' political activities have, in part, yielded them $295.2 billion from the federal government's Troubled Asset Relief Program (TARP), an extraordinary return of...Read Full Article Comments (1)
Republican leaders in Congress have released a list of 32 wasteful items they have identified in the stimulus. Steve Benen at Washington Monthly does some math and finds that the items in the list come out to about $18.7 billion, or about 2 percent of the overall bill. Related: The New York Post has the scoop on what Hollywood's got coming to them in the bill: >A provision in the current "stimulus" bill would allow Hollywood moguls to write off half the production and filming costs of bi...Read Full Article Submit a Comment
The Senate begins voting on amendments to the stimulus package today. CQ Politics seems to have the most info right now on what's coming to a vote. Just wanted to get this link up here for now... I'll update in a bit. UPDATE: Okay, this is very rough, but I've got a quick rundown of the Senate stimulus amendments that were introduced yesterday in printed in the Congressional Record. * Amdt 99 (Sen. Robert Casey [D, PA]) - Establishes a bipartisan Joint Select Committee on Economic...Read Full Article Comments (1)
The Senate Finance Committee has posted the Senate version of the stimulus in one giant .pdf. It's 736 pages, in the form of a substitute amendment to H.R. 1 - the version of the stimulus that was passed by the House. This will be voted on by the Senate either tomorrow or Wednesday, with a final vote on the bill expected a few legislative days later Dig in, and if you find anything fishy, leave it in the comments. UPDATE: I sent this out on Twitter last week, and now that the stimulus is...Read Full Article Comments (18)
The ever-growing economic stimulus package, which was passed by the House of Representatives last week, is slated to be debated in the Senate beginning this afternoon. Since the House's action on the bill last week, the stimulus package has grown by about $70 billion (now totaling $888 billion), and it is expected to grow even more as it is dealt with by the Senate, probably to more than $900 billion.Read Full Article Comments (16)
After approving seven amendments, the House of Representatives on Wednesday evening voted 244 - 188 in favor of H.R. 1, the American Recovery and Reinvestment Act of 2009.
Not a single Republican member voted in favor of the bill on final passage. Eleven Democrats, on the other hand, crossed the aisle to vote with Republicans against the bill.
The economic stimulus bill is coming to the floor of the House sooner than expected. According to Majority Leader Steny Hoyer's "Daily Leader," Obama and congressional Democrats' $866 billion attempt at rescuing the economy is now scheduled to be on the House floor this afternoon. All votes on the bill, including amendments and final passage, will take place on Wednesday.Read Full Article Comments (1)