Negotiators Trim Stimulus Package by $30 Billion
Major issues being worked out in conference.
Compiled by staff
Published: Feb 12, 2009
Progress in negotiating an economic stimulus package is being reported. A Democratic aide said Wednesday afternoon that House and Senate negotiators have agreed to a final bill worth $789.5 billion. Many of the differences in the Senate and house bills have been resolved though a few issues remain.
All eyes are on Senators Susan Collins, R-Maine, and Olympia Snowe, R-Maine and Arlan Spector, R-Pa. They are the three Republicans who sided with Democrats to get the economic stimulus package passed in the Senate. At least two of them must be satisfied with any changes the House insists on in the conference report to guarantee passage of the final bill.
Senator Tom Harkin, D-Iowa, said Democrats gave in to Republican demands on trimming the size of the package, including its school construction spending and aid to states. School construction was set at $6 billion and can only be used for school repairs.
House Ways and Means Chairman Charles Rangel, D-N.Y., said the final conference deal will include much of what House Democrats want, but not all. Senate Finance Chairman Max Baucus, D-Mont., said the tax portion of the bill would be about 35% of the total, or roughly $276 billion. That means some Senate tax provisions are likely to be scaled back.
Permalink: Click here
|