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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
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HOUSE PASSES ECONOMY STIMULUS PACKAGE
Tuesday, January 29, 2008 3:27:05 PM
The House, seizing a rare moment of bipartisanship to respond to the economy's slump, overwhelmingly passed a $146 billion aid package Tuesday that would speed rebates of $600-$1,200 to most taxpayers.
The plan, approved 385-35 after little debate, would send at least some rebate to anyone with at least $3,000 in income, with more going to families with children and less going to wealthier taxpayers.
It faced a murky future in the Senate, though, where Democrats and Republicans backed a larger package that adds billions of dollars for senior citizens and the unemployed, and shrinks the rebate to $500 for individuals and $1,000 Other Top Headlines Photos
House Passes Economy Stimulus Package
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for couples. That plan, written by Finance Committee Chairman Max Baucus, would deliver checks even to the richest taxpayers, who are disqualified under the House-passed measure.
Both versions would provide tax breaks to businesses to spur equipment and other purchases.
Baucus, D-Mont., planned a Wednesday vote in his committee, and Majority Leader Harry Reid has said he hopes to have it approved by week's end. Congressional leaders are aiming to send the measure to President Bush by Feb. 15.
But the divergent plans -- and bids by Senate Democrats and Republicans to swell the package with more add-ons -- could drag out that schedule.
Sen. Mitch McConnell, R-Ky., the minority leader, said the Senate should simply pass the House measure, which would send it straight to Bush for his signature.
"This is not a time to get into some kind of testing of wills between the two congressional bodies. This is a time to show we can rise above partisanship, do something important, and do it quickly," McConnell said.
The House plan brought together Democrats and Republicans, both of whom surrendered cherished proposals to reach a deal.
House Speaker Nancy Pelosi, D-Calif., cautioned against adding items that could hinder an economic recovery or scuttle the bipartisan agreement.
"It's important that this bill not get overloaded. I have a full agenda of things I would like to have in the package, but we have to contain the price," Pelosi said. "We made a decision, because that's where we could find our common ground."
Republican leaders, too, described the measure as an imperfect compromise that would provide a needed jolt to the economy.
Americans "expect us to find ways to work together, not reasons to fight with each other," said Rep. John A. Boehner, R-Ohio, who forged the agreement with Pelosi in consultation with Treasury Secretary Henry M. Paulson.
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Posted 1/29/08 3:34 PM  |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
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| Posted 1/29/08 3:40 PM |
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melbalalala
Little Lady
Member since 5/07 5014 total posts
Name:
Melissa
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Ugh I hate this stimulus plan. This is the biggest "election year is upon us so let's pass things that people like but don't work" Ive ever seen.
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| Posted 1/29/08 3:43 PM |
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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
yeah us too!!
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| Posted 1/29/08 3:43 PM |
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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
It still has to go through the Senate so I still has a change to not go through
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| Posted 1/29/08 3:44 PM |
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Red
spring is in the air
Member since 11/05 2688 total posts
Name:
helen
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Lisa
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
yeah us too!!
I have a funny feeling we're not getting a check - what is the breakdown, do you know?
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| Posted 1/29/08 3:45 PM |
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CkGm
They get so big, so fast :(
Member since 5/05 13848 total posts
Name:
Christine
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
If I didn't work half the year last year due to maternity leave, that would have been us too. I never knew we were wealthy
Dumbest idea ever BTW- so the plan is everyone gets their cash and they go spend it and it stimulates the economy? A tad simplistic if you ask me.
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| Posted 1/29/08 3:45 PM |
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CkGm
They get so big, so fast :(
Member since 5/05 13848 total posts
Name:
Christine
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Red
Posted by Lisa
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
yeah us too!!
I have a funny feeling we're not getting a check - what is the breakdown, do you know?
Married, filing jointly without kids- limit 150,000
Married, filing jointly with a kid- limit 174,000
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| Posted 1/29/08 3:46 PM |
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Brittny817
LIF Toddler
Member since 8/07 410 total posts
Name:
Brittny
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
There is no chance DH and I will see a nickle.
They should take the cost of living in certain regions into consideration (ie NYC and it's suburbs). What is considered "wealthy" in some parts of the country is not in others.
On the other hand I do think there are people in greater need that DH and I. I would be comfortable with our share going to a family that needs it more than we do.
Message edited 1/29/2008 3:50:18 PM.
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| Posted 1/29/08 3:49 PM |
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Red
spring is in the air
Member since 11/05 2688 total posts
Name:
helen
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by CkGm
Married, filing jointly without kids- limit 150,000
Married, filing jointly with a kid- limit 174,000
nada for us - I expect most ppl on LI won;t be qualifying - or am I wrong?
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| Posted 1/29/08 4:00 PM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Red
Posted by CkGm
Married, filing jointly without kids- limit 150,000
Married, filing jointly with a kid- limit 174,000
nada for us - I expect most ppl on LI won;t be qualifying - or am I wrong?
We will get it and I think there are a lot of people like me that will be getting it. My DH works FT and I only work PT. I know most of our friends will be getting it.
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| Posted 1/29/08 4:04 PM |
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Whamtastic
LIF Adult
Member since 1/07 997 total posts
Name:
Big Fat Baby with a Blackberry
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
If you're making (jointly) over $150,000 you DON'T need the money. You might WANT the money, you might LIKE the money, but you don't need it the way a family making $15,000 does.
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| Posted 1/29/08 4:09 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Whamtastic
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
If you're making (jointly) over $150,000 you DON'T need the money. You might WANT the money, you might LIKE the money, but you don't need it the way a family making $15,000 does.
I agree with this
I am broke, I need the $$
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| Posted 1/29/08 4:25 PM |
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Red
Posted by CkGm
Married, filing jointly without kids- limit 150,000
Married, filing jointly with a kid- limit 174,000
nada for us - I expect most ppl on LI won't be qualifying - or am I wrong?
We qualify!!!
But this still has to go through the Senate so I'm keeping my fingers crossed. 
ETA: If we had a combined income of $150K+ I'd be happier than a pig in $hit and wouldn't even care about a check from the gov't.
Message edited 1/29/2008 4:30:25 PM.
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| Posted 1/29/08 4:27 PM |
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igottabeme
Its peanut butter jelly time!
Member since 1/08 2340 total posts
Name:
Wouldnt you like to know! ;)
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by stephanief
Posted by Whamtastic
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
If you're making (jointly) over $150,000 you DON'T need the money. You might WANT the money, you might LIKE the money, but you don't need it the way a family making $15,000 does.
I agree with this
I am broke, I need the $$
ditto! i wont lie...i need the money! LI is expensive!
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| Posted 1/29/08 4:33 PM |
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quasi3
LIF Adult
Member since 7/07 1764 total posts
Name:
Stacey
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
ETA: If we had a combined income of $150K+ I'd be happier than a pig in $hit and wouldn't even care about a check from the gov't.
Me Too!!!!!!!!!
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| Posted 1/29/08 4:37 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
everything is relative.
personally, the part about extending unemployment benefits and giving seniors a rebate is excellent. I hope the Senate passes it for those reasons alone.
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| Posted 1/29/08 4:39 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Whamtastic
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
If you're making (jointly) over $150,000 you DON'T need the money. You might WANT the money, you might LIKE the money, but you don't need it the way a family making $15,000 does.
yeah. I tend to agree.
and I'd actually like to see more aid going to seniors and take the hit on whatever rebate we will be receiving.
seniors are really getting shafted...SS isn't doing squat for many of them with everything so expensive (housing, medical bills etc) and they didn't have the savings programs we have now. it's terrible. 
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| Posted 1/29/08 4:42 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Ophelia
seniors are really getting shafted...SS isn't doing squat for many of them with everything so expensive (housing, medical bills etc) and they didn't have the savings programs we have now. it's terrible.
At least they get SS. We may never see the day so take your rebates and stock them away....
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| Posted 1/29/08 4:44 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Goobster
Posted by Ophelia
seniors are really getting shafted...SS isn't doing squat for many of them with everything so expensive (housing, medical bills etc) and they didn't have the savings programs we have now. it's terrible.
At least they get SS. We may never see the day so take your rebates and stock them away....
this is true...but there wasn't really other options back then available they way they are now...
my MIL could not possibly live off of her SS if she didn't have a severely rent controlled apt...and even then, it'd be so tight for her..we'll probably always pay the rent (we live there now).
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| Posted 1/29/08 4:48 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Ophelia
Posted by Goobster
Posted by Ophelia
seniors are really getting shafted...SS isn't doing squat for many of them with everything so expensive (housing, medical bills etc) and they didn't have the savings programs we have now. it's terrible.
At least they get SS. We may never see the day so take your rebates and stock them away....
this is true...but there wasn't really other options back then available they way they are now...
my MIL could not possibly live off of her SS if she didn't have a severely rent controlled apt...and even then, it'd be so tight for her..we'll probably always pay the rent (we live there now).
I couldn't agree more. My dad is 76 and still has to work. Their SS is just under $2K/mo. They have very little retirement assets and most of the reason they don't is because there weren't savings vehicles back then like there are now. Some bad luck happened as well but that's not the whole picture.
Their medicare supplement plans cost $200/mo. That leaves $1800 a month for everything else. I supplement them. It's a heartache.
Message edited 1/29/2008 4:54:45 PM.
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| Posted 1/29/08 4:51 PM |
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bomb-blast
bye bye
Member since 11/06 1327 total posts
Name:
Leo
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
woo hoo i'm gonna take my 'rebate' check and go spend it at the $0.99 store
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| Posted 1/29/08 5:08 PM |
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donegal419
St. Gerard, pray for us.
Member since 7/07 7650 total posts
Name:
K
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
this not going to stimulate the economy at all. the vast majority of people that need this are not going out and spending it... they will be using it to pay down already accumulated debt (credit cards, mortgage, etc.)
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| Posted 1/29/08 6:21 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
Posted by Whamtastic
Posted by MrsFlatbread
great still doesn't help my husband and I b/c apparently the gov't thinks we don't need the money
If you're making (jointly) over $150,000 you DON'T need the money. You might WANT the money, you might LIKE the money, but you don't need it the way a family making $15,000 does.
Thank you!!!!!!
People honeslty don't realize how much they have. My parents raised 2 kids and put us through college on 1.3 of that...and we wou'd not have sneezed at $600 or $1200. It would have made a lot of difference for us.
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| Posted 1/29/08 6:24 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: HOUSE PASSES ECONOMY STIMULUS PACKAGE
ETA: If we had a combined income of $150K+ I'd be happier than a pig in $hit and wouldn't even care about a check from the gov't.
I have to agree. We must be "poor" then because we make NOTHING close to the maximum.
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| Posted 1/29/08 6:25 PM |
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