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Jonathan D. Colman |
Here is the status of the $825 billion bill, which aims to jump-start an economy in recession since December, 2007:
Approved In House Committees:
— $358 billion: The House Appropriations Committee approved the major spending portion of the package—$358 billion in spending to rebuild roads, bridges, waterways, energy grids and other job-creating construction projects. It also would boost federal investment in education and expand food aid programs. No Republican on the panel voted for the bill.
—$367 billion: The House Ways and Means Committee approved a second part of the stimulus bill. The $367 billion includes (figures rounded up):
—$275 billion in temporary tax cuts for workers, tax incentives to produce renewable energy, and breaks for builders and other companies that would be allowed to write off current losses against five previous tax years.
—$48 billion to help unemployed people keep their health insurance and to invest in health information technology.
—$46 billion for expanded unemployment benefits and aid to needy families and child support.
This measure also was approved on a partisan vote.
—$100 billion: The House Energy and Commerce Committee approved a third component that includes money to improve broadband Internet access, invest more in clean energy and energy efficiency.
It also has about $87 billion to help states pay increasing Medicaid health insurance costs for the poor.
Still To Come:
—House Republican leaders say they will provide a detailed stimulus proposal of their own. They have sketched out tax cuts for workers and new tax deductions for small businesses. In general, they want more emphasis on tax cuts to stimulate the economy and less government spending.
—A vote by the full House to pass the Democratic bill could come as early as Wednesday.
—Senate committees are expected to meet next week to debate and vote on their versions of the stimulus bill. Like the House measure, their bill also will propose $275 billion in temporary tax cuts.
—Senate Majority Leader Harry Reid said debate by the full Senate on a bill could be held on Jan. 31 or Feb. 1.
—House and Senate negotiators would then meet to work out differences in their respective bills.
—Democrats hope final votes on one bill would be held by mid-February, with Obama signing it into law promptly.





