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American Recovery and Reinvestment Act of 2009 (view source)
Revision as of 08:47, January 29, 2009
, 08:47, January 29, 2009GOP
The stimulus package is aimed at preventing the economy from collapsing and restoring it to normal. Conservative critics claims it will do little to help the economy and is filled with non-essential spending. The [[Congressional Budget Office]] says $347 billion more in interest will be the result, which brings the total plan over 1 [[trillion]] dollars. <ref>[http://www.foxnews.com/politics/2009/01/28/special-groups-line-piece-stimulus/ Special-Interest Groups Line Up for a Piece of Stimulus] Fox News, January 28, 2009</ref>
The stimulus package is aimed at preventing the economy from collapsing and restoring it to normal. Conservative critics claims it will do little to help the economy and is filled with non-essential spending. The [[Congressional Budget Office]] says $347 billion more in interest will be the result, which brings the total plan over 1 [[trillion]] dollars. <ref>[http://www.foxnews.com/politics/2009/01/28/special-groups-line-piece-stimulus/ Special-Interest Groups Line Up for a Piece of Stimulus] Fox News, January 28, 2009</ref>
House Republicans proposed a stimulus bill tilted more sharply toward tax cuts, which they say will generate the most economic activity the fastest. Their substitute proposed cutting individual and business taxes as well as reducing much of the bill’s spending; it was rejected by a party-line vote of 170-266. The failed GOP measure totaled about $479 billion, a little more than half the total passed by the Democrats.
The 2009 bill includes tax rebates that resemble in part the $152 billion stimulus law proposed by President [[George W. Bush]] and passed by Congress in Feb. 2008; those rebates were mostly saved and failed to stimulate the economy in 2008. <ref>see [http://www.reuters.com/article/newsOne/idUSN0631744820080208 Reuters, Feb. 8, 2008]</ref>
The 2009 bill includes tax rebates that resemble in part the $152 billion stimulus law proposed by President [[George W. Bush]] and passed by Congress in Feb. 2008; those rebates were mostly saved and failed to stimulate the economy in 2008. <ref>see [http://www.reuters.com/article/newsOne/idUSN0631744820080208 Reuters, Feb. 8, 2008]</ref>