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Stimulus Bill Passes Senate, Still a Long Way to Go

This article was written by in Economy. 7 comments.


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.

Updated February 18, 2009 and originally published February 10, 2009. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 3 comments… read them below or add one }

avatar Mike

/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.

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avatar kitty

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.

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avatar thomas

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.

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