Obama's Stimulus Bill Heads to Senate

by Rob Walker | February 2, 2009 at 12:14 pm
101 views | 0 Recommendations | 1 comment

Photos

President Obama January 27 2009

President Obama January 27 2009

see larger image

uploaded by antoine.mcgrath

Videos

Bond Discusses the Economy and the Democrats Trillion Dollar Spending Bill on CNBC

see larger video

sourced by Geneva B

Bond Discusses the Economy and the Democrats Trillion Dollar Spending Bill on CNBC

United States senators are re-tooling the more controversial aspects of President Barack Obama's $800 billion stimulus plan, as republicans demanded additional tax cuts. Democrats have allegedly stated they would drop items that have drawn criticism.

The stimulus plan's debate began at 2:43pm est, which began after the house passed the $819 billion plan last week.

The U.S. Senate has opened debate on President Barack Obama's massive economic stimulus package.

The price tag is already approaching $900 billion - and it's likely to grow.

Before the debate got under way, Senate Republican leader Mitch McConnell called for more mortgage relief and additional tax cuts, while Democrats conceded privately they will drop items that have drawn bipartisan criticism.


In a controversy that must have Obama and company blushing, white house press secretary Robert Gibbs says Obama views Senator Tom Daschle's tax troubles as a 'very serious' matter, but that they still supported him as their pick as HHS secretary.

The White House today called Tom Daschle's failure to pay more than $100,000 in back taxes a "serious mistake," but the president still "absolutely" supports his nomination to be secretary of Health and Human Services.

Obama also announced on Monday that he would set up an independent board to review spending on the $800 billion bill.

President Barack Obama said on Monday he would set up an independent Board to review spending of his economic $800 billion-plus stimulus plan to pull the nation out of it's deep economic recession.

Part of Obama's changes to the budget include a request to cut the Pentagon's budget by more than 10 per cent for 2010. This would equal about $55 billion in savings.

The Obama administration has asked the military's Joint Chiefs of Staff to cut the Pentagon's budget request for the fiscal year 2010 by more than 10 percent -- about $55 billion -- a senior U.S. defense official tells FOX News.

Meanwhile Canadian trade minister Stockwell Day says he is only 'slightly encouraged' after his meeting with his US counterpart to discuss a new proposal that would cripple cross-border trade.

They discussed a proposed amendment to the US$880 billion stimulus bill that could, in part, keep Canadian steel products out of the U.S.

Day believes the move violates the terms of the North American Free Trade Agreement. He said he made Canada's position clear to Allgeier, but came away from the meeting with little more than a hint of reassurance that Canada would be exempted from the measure.

recommend This comment thread is now closed
0
Income Tax

If you check US income tax data on  income tax list

You will not be surprised to see that richest zip code area, like New York, NY 10153 Income Tax (average AGI over $6M), Miami Beach, FL, 33109 Income Tax (average AGI over $3M) pay almost same effective rate, about 20% as most populated zip code Dallas, TX, 75252 Income Tax 

The income inequity is here in US and it looks like that rich is not taxed much as people thought.

 

This story was created over 3 months ago, the comment thread is now closed.

closeSign in to NowPublic

is reporting from