Economic Stimulus Plan

 I know they are going to be voting on the new economic stimulus plan today.  (they might have by now) But, does anyone know, in real terms, what is being proposed? How is it supposed to help the citizens?  

Long version from the Appropriations Committee

Overview

This is what is up on the white house web site about it

Here is a summary of the plan on about.com

Here is a Paul Krugman article about objections to the plan

Obama says it will create jobs

Republicans say it won't and they'd rather have tax cuts than spending on job creation

It will pass the house without republican support, but it needs 1 or 2 republican senators to pass the senate.

I think it was going to be debated in the senate today, but i have no idea if they voted on it this morning.

wait, i just checked c-span -- the house is debating it today (not the senate) and a vote is expected by early evening, including a vote on a republican alternative

From what I've seen so far most Dems and Repubs are still trying to play politics as usual, but Obama managed to one-up both at least once.

He got the Dems to drop the family-planning spending (which has nothing to do with stimulating the economy) so that the Repubs couldn't beat him over the head with it.

It's stuff like that, taking away talking points and sound bites, which will get a plan passed.

Like I said before, I think he's going to drag the Dems (kicking and screaming) to more victories over the next decade.

The republicans offered up a counter proposal:

1. 5% across the board income tax cut.
2. Child tax credit (non-refundable) increased from $1k to $5k.
3. 15% tax rate on capital gains and dividends.

Now if those had income phase outs starting around $150,000 and some kind of sunset, then they'd be solid ideas imho, but as proposed would exacerbate the problem.

The real problem of course is that Pelosi, Reid n' Co are developing a partisan plan and in an attempt to be bipartisan (::rollseyes::) telling the Republicans to vote for it.

Which of course means the Repubs will turn around and play the same game :p

i think it's really difficult for the dems to be truly bipartisan after the way they were treated when they were the minority (specifically 2001-2007)

a lot of the traditional comity was lost during that time

even though Obama asked people to "put aside childish things" (like spite or insisting on getting your own way or some such) it's still not easy to do - and when the republicans regain the majority, i doubt they'll be making any effort whatsoever to include any dem ideas in their budgets/legislation

round and round we go...

Obama seems to have a similar capacity to move entrenched interests like Reagan before him.

I think the Republicans have some credibility issues with the public on the economy so not sure how long they can dig in if it is perceived negatively by the public who wants something done on the economy now and the republicans are a roadblock to that.

Original Post by ignayshus:

Obama seems to have a similar capacity to move entrenched interests like Reagan before him.

 He's smart to capitalize on his honeymoon phase. At this point no one wants to be the first one to pick a fight with him...

well, except ole John McCain, that is. :)

Trying to guess what the Bill will entail has already ensured me job security. :D

I am not even in America, but I hope some type of stimulus plan is put into place, bc the situation is getting more and more dire, my family are still there, and it is effecting the whole world.

at 6pm I got a text alert from local news station House pass stimulus plan. I guess it still has to go through the Senate?

akgal is right. The Republicans have no room to talk. Where was all bipartisan stuff while GW was in office? Have you seen the latest Gallup poll that gives the Republicans only 5 solid states in their favor? Changes will be made either with or without them, they can get on board or atrophy and become irrelevant, they have a choice. All Repubs voted against the stimulus bill in the House today; bipartisan my aunt Fanny.

I was greatly disappointed to find that Obama had given in on the contraceptive issue. Funding for contraceptives is a type of stimulus even if the right wing does not believe so. A woman can never be financially stable nor secure until she has full control over her reproductive ability. When we as a country remove this stability from women in poverty we are in fact further endangering the very economy we hope to save. Contraception is not shameful but normal and necessary. Those funds also would have provided health care jobs that are now either non-existant or will be soon. It took less than a week before the Republicans brought back this class warfare/wedge issue BS they are so famous for.

Funding for contraceptives is a type of stimulus even if the right wing does not believe so. 

ummmm...I think everyone knows(even the conservative right) that indeed contraceptives are a stimulus alright for .................ummmmm......sex!  (sorry couldn't resist)

Original Post by makettle:

akgal is right. The Republicans have no room to talk. Where was all bipartisan stuff while GW was in office? Have you seen the latest Gallup poll that gives the Republicans only 5 solid states in their favor? Changes will be made either with or without them, they can get on board or atrophy and become irrelevant, they have a choice. All Repubs voted against the stimulus bill in the House today; bipartisan my aunt Fanny.

I was greatly disappointed to find that Obama had given in on the contraceptive issue. Funding for contraceptives is a type of stimulus even if the right wing does not believe so. A woman can never be financially stable nor secure until she has full control over her reproductive ability. When we as a country remove this stability from women in poverty we are in fact further endangering the very economy we hope to save. Contraception is not shameful but normal and necessary. Those funds also would have provided health care jobs that are now either non-existant or will be soon. It took less than a week before the Republicans brought back this class warfare/wedge issue BS they are so famous for.

It didn't bother me that the GOP asked for the funding for family planning to be removed.  What bothered me was that they got what they asked for and then decided to vote against it anyway.

The dems can pass funding for family planning in another bill if they still want to. 

The concession was made in good faith in order to get some bipartisan good will going.  Trust the house GOP to take that good will and piss on it.

The House is generally more partisan than the Senate. That said - am emailing my senator, right now to express my support for the plan.

i did that yesterday - and sent a shorter version of it to the letter to the editor section of the paper

I think the planned parenthood concession was made more for Senate Republicans, than House Republicans. Let's hope they recognize a good opportunity when they see it. :)

Original Post by makettle:

akgal is right. The Republicans have no room to talk. Where was all bipartisan stuff while GW was in office? Have you seen the latest Gallup poll that gives the Republicans only 5 solid states in their favor? Changes will be made either with or without them, they can get on board or atrophy and become irrelevant, they have a choice. All Repubs voted against the stimulus bill in the House today; bipartisan my aunt Fanny.

I was greatly disappointed to find that Obama had given in on the contraceptive issue. Funding for contraceptives is a type of stimulus even if the right wing does not believe so. A woman can never be financially stable nor secure until she has full control over her reproductive ability. When we as a country remove this stability from women in poverty we are in fact further endangering the very economy we hope to save. Contraception is not shameful but normal and necessary. Those funds also would have provided health care jobs that are now either non-existant or will be soon. It took less than a week before the Republicans brought back this class warfare/wedge issue BS they are so famous for.

Obama ran on reconciliation and a new way forward so like it or not the Dems are going to be held to that standard, by virtue of the fact that Obama will hold them to it (or renege on a core campaign promise).

And no matter how you try to justify it, that money would not stimulate the economy long term or short term.

Those that feel the idea has is solid should put it through on it's own merit instead of the same old politics as usual of loading crap in with necessary legislation in order to force it to be passed (it's not like there's a whole lot of dissent left anyway).

Original Post by kathygator:

I think the planned parenthood concession was made more for Senate Republicans, than House Republicans. Let's hope they recognize a good opportunity when they see it. :)

Mostly I think Obama did it to take away talking points from potential obstacles. It comes off as a gift on first blush, but really it's shrewd politics.