Here is the quick Stimulus overview~
$400 tax credit~ up to $800 for couples
$1000 child tax credit for low income families
First time homebuyers in 2009 $8,000 tax credit
Homeowners who add energy efficient windows & other energy items get a tax credit to cover 30% up to $1,500
College students tax credit up to $2,500
Those getting unemployment- no federal income tax on the first $2,400
Government picks up 66% of Cobra Health Ins. costs for the first 9 months of unemployment.
$87 billion to Medicaid~ giving healthcare to poor people
$4 billion for Head Start early education program
Pell Grant College increases
$32 billion for College expenses
5 million unemployed will get a $25 benefit increase, as well as a longer period of benefits
$3 billion for emergency assistance to needy families
The spending will increase the debt~ interest on the debt $500 billion a year.
It is a step in the right direction. A beginning. This is full of things that are going to help people who are struggling and need a break. The first spending for the taxpayers in a very long time.
Republicans are expressing "sour grapes"-John McCain says the $787 billion measure will create what he calls "generational theft" — huge federal deficits for years to come.
Thanks for that newsflash John-- the $10.7 billion debt the Republicans rang up in the last 8 years has nothing to do with this--right? This from the man who has so many houses, he can't keep track of just how many. Also his wife, Cindy Lou refused to disclose her income during the presidential primary--So wealthy it's embarrassing?
Just to illustrate in stark terms what we are dealing with, check out this article on how someRepublicans touted provisions in the stimulus bill that will help their districts in press releases WITHOUT MENTIONING that they voted AGAINST the bill.