It's a common refrain from Republicans in the year since the $787 billion stimulus became law: trash it in public but accept or even beg for the money for their districts in private.Read Full Article
Senate Majority Leader Harry Reid [D, NV] is meeting with fellow Democratic senators today to hammer out an agreement over an $85 billion jobs bill.Read Full Article
After more than a month of partisan delay, the Senate voted this evening to wrap up debate of H.R. 3548, the unemployment benefits extension bill. The bill is now set for easy passage later in the week, possibly late on Tuesday night but most likely on Wednesday.Read Full Article
The big banks, like Bank of America, Citigroup and JP Morgan Chase, have been getting just about anything they want out of Washington these days. There is one thing, however, that so far they have been denied: the ability to get instant refunds on taxes paid on past profits up to five years back, or "carry-back" relief. But they have begun lobbying to get a piece of the relief.Read Full Article
I always love showing off our bill text comparison tool, which displays changes to bills as they go through the legislative process in crossed-out red for striken text and green for text that has been added. The Huffington Post's reporting that the GOP stripped flue pandemic preparedness money from the stimulus (H.R. 1 ) gives me a perfect opportunity to do so. Taking a quick look at the Senate amendment (2) version that was pushed by Sen. Susan Collins [R, ME], Sen. Ben Nelson [D, NE] and o...Read Full Article
As you have probably heard, the House this afternoon passed a bill (H.R. 1586) to impose a 90 percent tax on bonuses to employees at financial institutions that has received bailout money. The bill would levy the tax on any bonuses from bailed out firms paid out in 2009 to individuals with incomes over $250,000.Read Full Article
By comparing the Senate version of the bill to the final conference version of the bill that was signed into law, Jane Hamsher shows that a provision to block bonuses retroactively on TARP contracts, inserted by Dodd in the Senate bill, was actually taken out by the conference committee.Read Full Article
Sen. Charles Schumer [D, NY] has sent a letter to OMB Director Peter Orszag arguing that the stimulus bill does not allow Governors to pick and choose which portions of the bill they will accept. In the past few days, Several Governors, mainly (but not exclusively) Republicans, have said that they intend to turn down some of the stimulus funds - specifically the funds for extending unemployment benefits.Read Full Article
Before signing the American Recovery and Reinvestment Act of 2009 into law on Tuesday, the Obama administration released an assortment of fact sheets on the its estimated impacts in several areas. One of those fact sheets outlines the bill's impact on employment by congressional district. CongressDaily ($) notes that, according to that document, seven of the ten districts projected to gain the most jobs under the bill are represented by Republicans in the House. The Representatives for tho...Read Full Article
The American Recovery and Reinvestment Act of 2009 (the stimulus bill) was officially signed into law this afternoon by President Obama. It is now Pub.L. 111-005 Shortly after the signing ceremony, White House Press Secretary Robert Gibbs said that the Administration will not "foreclose" the idea of pushing a second stimulus package through Congress if this one doesn't do enough, though they have no plans to do so at the moment. ...Read Full Article
The stimulus bill
hasn't (update: has been) been signed into law yet, but one of its mandates - the establishment of a public website to track how the stimulus funds are being spent - has already been implemented.
Hot on the heels of the House of Representatives, the Senate this evening gave final congressional approval to the $787 billion American Recovery and Reinvestment Act by a vote of 60-38 - not a vote to spare. President Obama will sign the bill into law on Monday. Out of the 535 members of Congress, only three Republicans votes in favor of the bill.Read Full Article
The House of Representatives has just passed the $787 billion American Recovery and Reinvestment Act conference report by a vote of 246-183, sending it to the Senate for one final test before it gets signed into law by President Obama.
Like the House's first vote on the bill in late January, not a single Republican voted for it. Seven Democrats crossed the aisle this time to vote with the Republicans against the bill.
It's 11pm ET on Wednesday, and the full legislative text of the final version of Congress's $789.5 billion economic stimulus package has just been released. It's scheduled for a possible vote by the House of Representatives sometime tomorrow. It's 999 pages in total - Better get reading...Read Full Article
But in the meantime, here's a summary of the $311 billion in appropriations (.pdf) that will be included in the final version of the stimulus bill. ...$72. billion for rural broadband, $8.4 for mass transit, $9.3 billion for intercity rail investment, $19 billion for health IT, $53.6 billion for the State Fiscal Stabilization Fund, etc. UPDATE: And here is the other half, a summary of the tax provisions in the final stimulus bill (.pdf), courtesy of the House Ways and Means. Still no bil...Read Full Article