Stimulus Breakthrough in Congress
Lawmakers come to an agreement to help seniors and give rebates to taxpayers.
Feb. 7, 2008— -- After Republicans had narrowly blocked a larger, more generous economic stimulus package in a vote that brought the Democratic presidential candidates scurrying to Washington, lawmakers came together Thursday around a stimulus plan hashed out in January between House leaders on both sides of the aisle and President Bush.
Senators are expected to vote later this afternoon on an amendment to add benefits for as many as 21 million seniors and 250,000 disabled veterans to the $146 billion House proposal, at a cost of an extra $9 billion over two years.
The House bill would give rebates of between $600 and $1,200 to taxpayers with maximum incomes of $75,000 for singles and $150,000 for couples. The seniors and veterans living on fixed incomes will get $300 rebate checks with the Senate amendment.
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While Democrats in the Senate are relenting on extending unemployment insurance and increasing funding for food stamps, Senate Majority Leader Harry Reid declared victory today for improving the bill sent over by the House.
"If we had listened to the advice of the house, we would have 21 million seniors left behind. We would have 250,000 disabled veterans left behind," Reid said.
Senate Minority Leader Mitch McConnell said Americans anxiously awaiting rebate checks have had a good look in the past week at how things work in the Senate: "complicated, laborious and slow."
But he commended Democrats for, at long last, coming around.
"We will demonstrate we were able to put aside our differences... to make an important statement that we are concerned about the slowing of our economy and able to do something about it quickly," McConnell said.
As early as yesterday, Senate Majority Leader Harry Reid said he would not accept a deal like the one the Senate is expected to pass today since it did not include an extension of unemployment benefits beyond 13 weeks, $1 billion in extra help for low-income Americans to heat their homes, more help for homeowners in danger of foreclosure and additional food stamp benefits for the poor.
And Reid made a show of asking for "unanimous consent" to adding those measures to the House version of the bill on the Senate floor at 3 p.m. today. But Republican Judd Gregg objected on behalf of Republicans for a variety of reasons on each proposal.