InfoAnda - Update: Reid Says Senate Likely To Vote Friday Evening On Stimulus

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Home | News Briefs | U.S. | World | Celeb Buzz | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird & Offbeat Update: Reid Says Senate Likely To Vote Friday Evening On Stimulus February 13, 2009 12:12 p.m. EST Kris Alingod - AHN Contributor Washington, D.C. (AHN) - The House is currently taking procedural votes the final version of the President's economic stimulus plan. Final votes for the $789 billion bill are expected Friday, with the House voting in the afternoon and the Senate in the evening. Senate Majority Leader Harry Reid (D-NV) has said his chamber would vote either late afternoon or evening. Democrats are expected to wait for Sen. Sherrod Brown (D-OH), who will reportedly be attending the memorial service of his mother the same day. Democrats have a 58-seat majority in the Senate, including two independents who caucus with them, Sens. Joe Lieberman (I-CT) and Bernard Sanders (I-VT). Sixty votes are needed for the stimulus to pass. The Senate passed its version of the bill earlier this week with the votes of three Republicans, who broke ranks to put the vote at a narrow 61-37. The House and the Senate need to vote separately in favor of the stimulus before this can be signed into law by the President.Democratic leaders are hoping to have the bill signed before Congress breaks for its President's Day recess on Feb. 16 to 20. The stimulus moved through the House Rules Committee on Thursday, a day after an agreement was reached during a conference committee to cut down an $819 billion House version and the Senate's $838 billion package. The final draft has an $800 tax credit for working families and an amendment to a law known as COBRA. The law lets an employee who is dismissed, keep his health coverage from his old company. The cost is usually at least $1,000 a month, but the stimulus would help a former employee by requiring the federal government to subsidize 65 percent of the cost for nine months. According to the summary provided by House Appropriations Committee, $24.3 billion is devoted in the stimulus for Americans hardest hit by the recession. The amount includes $19.9 billion for additional food stamps, to increase the benefit by 13.6 percent. The stimulus also has the following investments: $120 billion for infrastructure and science, $14.2 billion for health, $105.9 billion for education and training. For energy, investment totaling $37.5 billion include $4.5 billion in repairing federal buildings to make them energy efficient. The bill is still facing strong criticisms from Republicans. House Minority Whip Eric Cantor (R-VA) met with party members on Thursday and said the measure still does not provide enough tax relief and has wasteful spending provisions. "The Democrats claim that they've got 37 percent of their bill providing for tax relief. But if you look at what is going on, new tax relief - not refundable tax relief, not extension of current tax policies like the AMT patch - there is only 17 percent of this bill that provides for tax relief. Again, most Americans agree that tax relief, instead of spending, is the way to bring this economy back," Cantor said. "We also are getting press reports that there is a plus-up - I think $8 billion - in the high-speed rail account. We also know from further press reports that Leader Harry Reid is looking at a train to Vegas and that's what he wants to see out of the stimulus bill... Again, that's exactly the kind of waste and pork-barrel spending that the American people are sick and tired of and expect a lot more," he added. The stimulus allocates a number of investments for transportation, including $27.5 billion for highway investments, $8.4 billion for public transportation, and $9.3 billion for rail transportation, including Amtrak, High Speed and Intercity Rail. The AMT, or Alternative Minimum Tax, is a tax introduced nearly four decades ago for high-income earners. Because it was never indexed for inflation, the AMT is due to affect middle-class families unless legislation is put in place. Copyright © 2003 - 2009 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Home | News Briefs | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat © 2009 AHN Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services All Rights Reserved

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