.Stimulus in the Senate: P.M. Update
For those of you keeping tabs, and unable to watch C-Span, Senate Democrats’ first efforts failed in amending the stimulus bill with a bigger infrastructure package to build roads, bridges and water projects.
A procedural vote to waive budget rules to proceed on the amendment failed, 58-39, two votes short of 60-votes needed. The vote itself drew out the opposition in a variety of ways, with Republican senators expressing their views on the broader disagreement over whether there ought to be deeper tax relief and less spending. It also demonstrated the strength of the Republican opposition to the overall bill, which they contend would amount to $1.2 trillion altogether.
The highway amendment had been pushed by Senator Patty Murray, Democrat of Washington, and others, in response to concerns that money needed to be increased for states to pursue “shovel-ready” projects that would create or preserve jobs in the short term.
Senator Arlen Specter, Republican of Pennsylvania, was one of the few Republicans who supported it, saying that his state’s governor, Ed Rendell, had told him jobs could be available within six months. Mr. Specter, however, expressed concerns raised by others that the additional spending should be offset by savings elsewhere.
*Hollywood* Senator John McCain joined Senator Tom Coburn in opposing a provision that would give the film industry additional help. Taking a swipe at a celebrity bloc that didn’t support his presidential bid, Mr. McCain said the provision, which offered an extension of bonus depreciation, rewarded “bigtime political donors” rather than Main Street. Senator Max Baucus contended the item would benefit independent, small filmmakers. The Senate voted 52-45 to strip the provision out of the package.
McCain Petition Senator McCain also appealed through his “Country First” PAC for followers to sign a petition protesting the current proposal. He complained on the floor that the stimulus package still includes millions of dollars for the National Endowment for the Arts and for Smithsonian museums.
Mortgage Aid Majority Leader Harry Reid was questioned about calls by Republican leaders for mortgage aid for homeowners to be possibly included in the stimulus package. Mr. Reid suggested the proposals — subsidized mortgage refinancing at rates of 4.5 percent or lower — could cost from $300 million to $1 trillion.
Automobile Help If you buy a car, a mini-van or a light truck, an amendment passed 71-26 by the Senate today may help if the full stimulus package is ultimately approved. Senator Barbara Mikulski touted the proposal as consumer-friendly, saying interest payments on car loans as well as sales tax would be tax-deductible on new cars through 2009. There are income limits for eligibility, but she said it would offer a savings of $1,553 on a $25,000 car.
Buy America In television interviews tonight, President Obama agreed with Republicans that provisions should be stripped from the House and Senate stimulus bills requiring the use of made-in-the U.S.A. steel, iron or other goods in these financed projects. The Chamber of Commerce and other business groups called the measures protectionist.
NYT
A procedural vote to waive budget rules to proceed on the amendment failed, 58-39, two votes short of 60-votes needed. The vote itself drew out the opposition in a variety of ways, with Republican senators expressing their views on the broader disagreement over whether there ought to be deeper tax relief and less spending. It also demonstrated the strength of the Republican opposition to the overall bill, which they contend would amount to $1.2 trillion altogether.
The highway amendment had been pushed by Senator Patty Murray, Democrat of Washington, and others, in response to concerns that money needed to be increased for states to pursue “shovel-ready” projects that would create or preserve jobs in the short term.
Senator Arlen Specter, Republican of Pennsylvania, was one of the few Republicans who supported it, saying that his state’s governor, Ed Rendell, had told him jobs could be available within six months. Mr. Specter, however, expressed concerns raised by others that the additional spending should be offset by savings elsewhere.
*Hollywood* Senator John McCain joined Senator Tom Coburn in opposing a provision that would give the film industry additional help. Taking a swipe at a celebrity bloc that didn’t support his presidential bid, Mr. McCain said the provision, which offered an extension of bonus depreciation, rewarded “bigtime political donors” rather than Main Street. Senator Max Baucus contended the item would benefit independent, small filmmakers. The Senate voted 52-45 to strip the provision out of the package.
McCain Petition Senator McCain also appealed through his “Country First” PAC for followers to sign a petition protesting the current proposal. He complained on the floor that the stimulus package still includes millions of dollars for the National Endowment for the Arts and for Smithsonian museums.
Mortgage Aid Majority Leader Harry Reid was questioned about calls by Republican leaders for mortgage aid for homeowners to be possibly included in the stimulus package. Mr. Reid suggested the proposals — subsidized mortgage refinancing at rates of 4.5 percent or lower — could cost from $300 million to $1 trillion.
Automobile Help If you buy a car, a mini-van or a light truck, an amendment passed 71-26 by the Senate today may help if the full stimulus package is ultimately approved. Senator Barbara Mikulski touted the proposal as consumer-friendly, saying interest payments on car loans as well as sales tax would be tax-deductible on new cars through 2009. There are income limits for eligibility, but she said it would offer a savings of $1,553 on a $25,000 car.
Buy America In television interviews tonight, President Obama agreed with Republicans that provisions should be stripped from the House and Senate stimulus bills requiring the use of made-in-the U.S.A. steel, iron or other goods in these financed projects. The Chamber of Commerce and other business groups called the measures protectionist.
NYT
posted by madtom at 7:06 PM
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