Wednesday, February 11, 2009

What Obama tries to giveth, Congress giveth away:

From the Washington Post.

Even after the Senate scaled down its version to $838 billion, approved 61-37 Tuesday, the centrists continued to demand more reductions. The likely targets are reducing Obama's "Make Work Pay" tax cut, from $500 a year for most individuals and $1,000 a year for most families, down to $400 and $800 respectively. Other reductions are likely in a $15,000 tax credit for all home purchases in the next year as well as a tax credit for the purchase of new cars, both of which were added to the Senate bill after little debate.

House Democrats have objected to wholesale deletions from their original bill during the Senate debate, but they are likely to see some return of aid to states that their plan priced at $79 billion. The Senate reduced that figure to $39 billion, while it also zeroed out a fund that would finance school construction, another priority for which House Democrats are pushing to restore funds.