February 06, 2009
This Package is DONE!
The Senate has tonight negotiated a final $780 billion dollars package(Republicans say is $1.1 trillion) economic stimulus. It was decreased by $39 billion from the original amount passed by the House. Some say, democrats agreed to concede some cuts in education from the original version and accommodate other things (Tax cuts) to gain republican support.
Now this bill will go into conference (the last phase) where details will be worked out by leaders from each party behind doors. Today’s final negotiation on the stimulus package puts an end on the legislative saga that has been taking center stage in Washington since it was publicly announce the cost of the original stimulus.
Next week, lawmakers will be watching carefully for the Treasury Secretary (Geithner) as he announces details of how to spend the remaining half (Roughly $300 billion) of TARP funds, remember, this was the first stimulus passed back in September to alleviate the economy. As you know, much of the first half went to the private capital sector(Corporate America).
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