Congress Votes for a Stimulus of $168 Billion
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The rescue package includes rebates for taxpayers and tax breaks for businesses that lawmakers and President Bush hope will set off a rush of springtime spending.
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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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U.S. House members spent $20.3 million in tax money last year to send constituents what's often the government equivalent of junk mail Â meeting announcements, tips on car care and job interviews, surveys on public policy and just plain bragging.
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Despite remarkably quick passage, the economic aid plan and its cash rebates may come too late to prevent a recession this year. For many experts, however, the $168 billion boost to the lagging economy may mean the difference between a short downturn and something much more serious.
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The White House and the Democratic-led Congress have reached a tentative deal on a $150 billion economic stimulus plan that includes tax rebates for wage earners and business investment incentives, congressional sources said on Thursday.
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The House and Senate last night overwhelmingly voted to extend three tax cuts aimed at the middle class along with a bevy of business-tax breaks, sending President Bush a
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The U.S. House of Representatives on Thursday overwhelmingly passed a compromise measure to increase the federal minimum wage for the first time in a decade -- and provide billions of dollars in tax breaks to help businesses pay for it. The vote was 348-73.
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The House, seizing a rare moment of bipartisanship to respond to the economyâs slump, overwhelmingly passed a $146 billion aid package that would speed rebates of $600-$1,200 to most taxpayers.
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The stimulus package being hashed out between Congress and the White House, along with the Fedâs recent rate cut, should give a modest boost to the U.S. economy by mid-2008, the I.M.F. said.
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The House today overwhelmingly approved a $146 billion shot in the arm for the nation's ailing economy, sending a stimulus package to the Senate with a bipartisan appeal to senators not to slow the bill with significant changes.
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U.S. House members spent $20.3 million in tax money last year to send constituents what's often the government equivalent of junk mail
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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 House overwhelmingly approved business tax breaks worth $1.8 billion over 10 years on Friday, a key step toward forging a congressional compromise on increasing the minimum wage. The vote on the tax cuts was 360-45.
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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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The House voted on Tuesday to approve a $146 billion fiscal stimulus package, but the bipartisan deal is at risk as Senate Democrats forged ahead with their own, more expensive plan and jockeyed over what to include in it.
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The ritual pledges of political cooperation are in place. Now the challenge for a lame duck Bush administration and an election-year Congress is to agree swiftly on an economic stimulus plan.
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Federal Reserve Chairman Ben Bernanke told Congress today that lawmakers should enact a fiscal stimulus package to help beleaguered consumers as recession fears grow. Economists and politicians are increasingly worried about fallout from the subprime mortgage meltdown.