Don’t Bet on Lame-Duck Stimulus Package

By Jennifer Parker

Oct 21, 2008 2:46pm

Despite the encouraging words yesterday from Federal Reserve Chairman Ben Bernanke and the White House for a new economic stimulus package  — it’s not going to happen this year.

Congressional sources say that House Speaker Nancy Pelosi will not accept the likely White House price for approving a stimulus bill — passage of the Colombia Free Trade Agreement. 

Obama allies want to save the package — especially accelerated tax cuts and new infrastructure investment — for his signature in January.   Senate Republicans will still have the votes they need to filibuster the kind of expansive legislation — $150-300 billion — that Democrats have discussed.   

All that adds up to more gridlock during the lame duck.

–George Stephanopoulos

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