Friday, January 30, 2009

'Obama's $900B "Stimulus" Isn't "Post Partisan" But Democrat Controlled Congress Will Approve Anyway

The House approveed Barack Obama's now nearly $900 billion stimulus bill after Mr. Obama yielded some points to the minority after a meeting with Congressional Republicans yesterday, including:

  • $69 billion to prevent the Alternative Minimum Tax from hitting middle-class families.
  • Removed $200 million to update the National Mall.
  • Removed Medicaid coverage for family planning.

Still, many Republicans are unlikely to support the bill, which includes:

  • $356.6 billion for infrastructure.
  • $180 billion for jobless benefits and Medicaid.
  • $275 billion in tax relief, including a $500 payroll tax holiday

Critics say the plan won't really stimulate the economy and amounts to a Democratic attempt to rewrite the social contract with low-income workers and the poor.

Supporters say the plan will create millions of jobs and seeks to reverse 25 years of GOP-led efforts to tilt the playing field in favor of the wealthy, and against low-income workers and the working poor.

After declaring "I won," President Obama reportedly said he "would not compromise...on his campaign promise for a middle-class tax credit that would also go to low-wage workers who earn too little to pay income taxes but are subject to payroll taxes for Social Security and Medicare," The NY Times reports.

No comments: