Senate to Offer Own Stimulus Package
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The chairman of the Senate Finance Committee yesterday unveiled a rival plan to stimulate the economy, offering a $500 check to virtually every American -- including low-income seniors and rich financiers -- in a direct challenge to the bipartisan deal reached last week by President Bush and House...
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The US Senate approves an economic stimulus plan to provide extra money to retired people and veterans.
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Democratic presidential contender Hillary Clinton on Friday will propose a $70 billion emergency spending package and possibly another $40 billion tax rebate to counter what she sees as a coming recession, according to the New York Times.
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A one-time tax rebate is at the heart of an economic stimulus package being negotiated by House leaders and Treasury Secretary Henry Paulson on Wednesday.
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The US Senate on Thursday overwhelmingly approved a giant economic stimulus plan sought by the White House amid mounting fears that the world's biggest economy could be sliding into a recession.
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A Senate famous for its "deliberative pace" is hoping to rush out bills this week bolstering pensions, raising the minimum wage and cutting taxes before departing the Capitol and shifting their re-election campaigns into high gear.
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Most taxpayers could expect a rebate of up to $600 starting in mid-May under the economic aid plan set to go through Congress within weeks.
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Legislators are trying to attach tax breaks as part of a broad energy bill to an emergency economic aid package containing rebates for millions of taxpayers
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The Senate was poised today to vote on a bill that will provide $136 billion in new tax breaks for businesses and other groups and $10.
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Democratic leaders in the U.S. House of Representatives on Tuesday began laying the groundwork for an economic stimulus plan of about $100 billion that likely will include tax rebates to help stave off a possible recession.
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President George W. Bush and leaders of the Democratic-led Congress vowed on Tuesday to move quickly to work out the details of a $150 billion stimulus package for the U.S. economy, as fears of a recession prompted a sell-off in global financial markets.
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As negotiations begin on an economic stimulus package, the big fight will be over whether to put extra money in the hands of low-income families who paid little or no income tax last year.
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The Senate Finance Committee approved a $157 billion economic stimulus package on Wednesday that offers smaller tax rebates to more people than a plan passed by the House of Representatives.
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The Senate could act as early as today on an economic stimulus plan, and the White House is watching closely to see how much is added to a House measure favored by the administration.
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The Treasury secretary said that he was concerned that special interest groups were lining up for handouts in the stimulus bill and urged senators to keep it focused on simple tax rebates.
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The House voted to approve a $146 billion fiscal stimulus package, hoping to quickly seal a fast-paced deal with the Bush administration. But Senate Democrats forged ahead with their own, more expensive plan.
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The House of Representatives on Thursday gave final approval to a $151 billion economic stimulus package that President George W. Bush is expected to sign into law.