The Senate voted on and passed their version of the 2009 stimulus bill today, but that doesn’t mean homebuyers who stand to receive a tax credit of up to $15,000 should start celebrating yet. The Senate’s version of the bill is somewhat different from the House’s version. For example, the $15,000 credit for all homebuyers does not even exist in the bill that passed the House.
So now, a selection of mostly Democrats from the Senate will meet with the House of Representatives. They will confer and try to hash out a version of the bill that strikes a compromise between both versions. I would expect that some aspects that have been removed from the Senate’s bill, like funding for improvements to K-12 and higher education facilities, to be added back into the final reconciled bill.
The outcome remains to be seen. We won’t know what is included until senators and representatives work out their differences.
Update: The Senate and House of Representatives have both passed the compromise version of the stimulus bill. Read the complete stimulus bill here, and you’ll be a step ahead of many of the congressmen who didn’t have a chance to read it before voting.
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/facepalm
Why do people think going further into debt will help? All they’re doing is just printing more money, causing the value of the dollar to drop more and more and more.
We need to get back on the gold standard so they can’t continue ‘legally’ counterfeiting more and more money.
How is all this spending going to create jobs? I would support the bill if someone goes line by line and explains to me how and how many jobs for laid off engineers, secretaries, programmers, car manufacturers, cashiers, etc. will be created.
I know what the outcome is – a tax bill that my children and grandchildren can’t even possibly begin to think of paying off, a majority of voting citizens that are consumers and not producers, and a myriad of government programs that will continue to drive the cost of government for years.
I have very little “hope” for the future of this country.