After rumors that the stimulus package was headed to the Senate yesterday, it appears lawmakers are still putting the final touches on the bill in order to get a passing vote.
There is a small group of both Republicans and Democrats that are trying to shave about 100 Billion off the package. This comes on the same day President Obama begged Washington to get this thing moving as job losses spike and unemployment rises.
Key Potential Cuts from the Stimulus:
Money to fight the Flu
Education Grants
Special Education
No Child Left Behind Act
With the cuts above, Washington hopes to add around 24-25 billion in infrastructure. As far as using American companies, if commodities prices rise over 20%, commodities would be able to be purchased outside the United States.
When all said and done, it looks like this stimulus package will be around 800 billion dollars. It looks like they are moving slower then expected on this bill. Hopefully we get something by next week because I believe Congress goes on vacation soon.
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Showing posts with label simulus bill update. Show all posts
Showing posts with label simulus bill update. Show all posts
Friday, February 6, 2009
Thursday, February 5, 2009
Stimulus Package 2/5/09 - February 5, 2009
The Stimulus Package is headed to the US Senate today, 2/5/09, as the job losses keep adding up. Governor Jennifer Granholm of Michigan was on CNBC today pleading for the Government to get this package moving and passed. " We cannot wait any longer, things are getting worse, stop just standing around and do something, " Granholm pleaded.
Granholm also stated that this stimulus won't solve the whole problem but it could help stop the slide in our economy.
Panasonic announced yesterday it will cut 15,000 jobs
GlaxoSmithKline will axe more jobs, Media reports rumor 8000 - 10,000 jobs will be cut.
Key Stimulus Highlights:
- All stimulus spending must go toward American Goods and Services
- Hopes to create 3-5 million jobs
- Tax credit for home buyers of up to 15,000
Hopefully this package will pass today and we get this thing moving!
Granholm also stated that this stimulus won't solve the whole problem but it could help stop the slide in our economy.
Panasonic announced yesterday it will cut 15,000 jobs
GlaxoSmithKline will axe more jobs, Media reports rumor 8000 - 10,000 jobs will be cut.
Key Stimulus Highlights:
- All stimulus spending must go toward American Goods and Services
- Hopes to create 3-5 million jobs
- Tax credit for home buyers of up to 15,000
Hopefully this package will pass today and we get this thing moving!
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