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Congress Reaches Stimulus Deal: Here Are the Details

Congress is no longer a house divided . . . for now. This afternoon the House and Senate tentatively reconciled their stimulus packages — and they managed to cut the bill by billions, settling on a grand total of $789 billion.

So what's in and what's out?

  • The bill includes $150 billion in spending on infrastructure.
  • An estimated 35 percent will go to pure tax cuts.
  • The compromise threw out $35 billion from a proposed state fiscal stabilization fund, and eliminated $16 billion in aid for school construction.
  • The bill preserves a tax break for millions of lower and middle income taxpayers, including those who don't earn enough to pay income taxes.
  • The House kept its 65 percent subsidy to help laid-off workers meet COBRA payments to maintain health insurance. The Senate had wanted a 50 percent subsidy.
  • Tax incentives for home and car buyers were significantly cut.
  • Social Security, Supplemental Security Income, and veterans' pension recipients will get a one-time payment, less than the $300 originally proposed by the Senate.

All the details have yet to emerge and some Democrats (and almost every Republican) aren't happy with the final version. Even so, leaders say the compromise bill will create or save 3.5 million jobs. Are you happy lawmakers made a deal?

Source

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Join The Conversation
genesisrocks genesisrocks 7 years
I see a lot about tax cuts in there. I think both sides should be happy for now. We just have to see how it works
PinkNC PinkNC 7 years
I'm not sure about everything in this bill. But I guess only time will tell.
UnDave35 UnDave35 7 years
I'm also angry that our fearless leaders felt they had to hide the health care reforms in this bill, instead of allowing them to be debated on their own merits. Way to go Dems. All that talk of bipartisanship was a load of garbonzo beans.
skb9850 skb9850 7 years
Not happy with it. I think too many pet projects were allowed to hang on. I would rather have seen more of those cut than take away money for the schools.
melizzle melizzle 7 years
Ugh. Just ugh. :sick:
melizzle melizzle 7 years
Ugh. Just ugh. :sick:
kranky kranky 7 years
"On a personal side not a single tax cut affects me which kind of sucks." Yup, me too. And what also sucks is knowing that paying our (my husband and I) 'fair share' of taxes is only going to go up from here...
kranky kranky 7 years
"On a personal side not a single tax cut affects me which kind of sucks."Yup, me too. And what also sucks is knowing that paying our (my husband and I) 'fair share' of taxes is only going to go up from here...
mydiadem mydiadem 7 years
On a personal side not a single tax cut affects me which kind of sucks.
kranky kranky 7 years
Sorry for the double post....
kranky kranky 7 years
On the personal side, I am really upset they took out the tax breaks for homebuyers... that affects me personally and it was the one aspect of the bill that might have actually benefitted my husband and I. Plus, it actually tackled one of the core fallouts from the economic crisis. Getting people incentives to buy homes int hese uncertain times = good for economy. All that aside, I am pretty much outraged at the whole thing. The President and Congress have majorly fouled up. The fact that I did not vote for any of them doesn't make me feel better. At all. The best I can hope for is that fiscal conservatives (be they Independent or Republican) dominate Congress in two years and they have the guts to deal with this crap head-on.
kranky kranky 7 years
On the personal side, I am really upset they took out the tax breaks for homebuyers... that affects me personally and it was the one aspect of the bill that might have actually benefitted my husband and I. Plus, it actually tackled one of the core fallouts from the economic crisis. Getting people incentives to buy homes int hese uncertain times = good for economy. All that aside, I am pretty much outraged at the whole thing. The President and Congress have majorly fouled up. The fact that I did not vote for any of them doesn't make me feel better. At all. The best I can hope for is that fiscal conservatives (be they Independent or Republican) dominate Congress in two years and they have the guts to deal with this crap head-on.
kranky kranky 7 years
On the personal side, I am really upset they took out the tax breaks for homebuyers... that affects me personally and it was the one aspect of the bill that might have actually benefitted my husband and I. Plus, it actually tackled one of the core fallouts from the economic crisis. Getting people incentives to buy homes int hese uncertain times = good for economy. All that aside, I am pretty much outraged at the whole thing. The President and Congress have majorly fouled up. The fact that I did not vote for any of them doesn't make me feel better. At all. The best I can hope for is that fiscal conservatives (be they Independent or Republican) dominate Congress in two years and they have the guts to deal with this crap head-on.
mydiadem mydiadem 7 years
So here's where I stand: I'm honestly not as upset about the idea of bankrupting my future for the stimulus because I get something out of it. I get better roads, better health records, cleaner water, maybe some new science research, I get better schools. I get stuff government should have been doing all along. I don't like the additional checks for social security recepients. I don't like entitlement programs period. I doubt I'll be able to get Medicare or Social Security when or if it comes time for me to collect and that's where most of our federal budget goes to. That's what really has bankrupted my future.
mydiadem mydiadem 7 years
So here's where I stand: I'm honestly not as upset about the idea of bankrupting my future for the stimulus because I get something out of it. I get better roads, better health records, cleaner water, maybe some new science research, I get better schools. I get stuff government should have been doing all along. I don't like the additional checks for social security recepients. I don't like entitlement programs period. I doubt I'll be able to get Medicare or Social Security when or if it comes time for me to collect and that's where most of our federal budget goes to. That's what really has bankrupted my future.
CaterpillarGirl CaterpillarGirl 7 years
I am not happy about it, I dont think it will help at all.
Grandpa Grandpa 7 years
Well, the final bill breaks down to an expenditure of $5,000 for every man woman and child in America. Some day that bill WILL come do. The Republicans have been given a great campaign issue in 2010whether the recession is over or not. They will campaign on all the pork, and where it went, and what was wasted, and what was lost, if the recession is over, and just rill over the democrats if it is not over. Two years is a long time, and a lot can happen, but as of the latest Rasmussen poll, the Democrats only outpoll the Republicans by one point on the generic ballot.
starangel82 starangel82 7 years
I still want to know how this stimulus package is going to create and save 3.5 million jobs. I just can't wrap my head around it. I also wonder when the 'wonderful' tax cuts will go into effect. I am shocked that Congress managed to get it together this quickly. I thought this would drag out for another week or so. And I really don't care if Democrats and Republicans aren't happy about the bill, do they know how their constituents feel about it?
starangel82 starangel82 7 years
I still want to know how this stimulus package is going to create and save 3.5 million jobs. I just can't wrap my head around it. I also wonder when the 'wonderful' tax cuts will go into effect.I am shocked that Congress managed to get it together this quickly. I thought this would drag out for another week or so. And I really don't care if Democrats and Republicans aren't happy about the bill, do they know how their constituents feel about it?
StolzeMama StolzeMama 7 years
Yeah, how do you prove that you saved 3.5 million jobs, whatever, done deal now. No to mention all of the hidden language in the bill that is now coming to light. 647 pages. Every pet project law makers have wanted to give money to... *sigh* Excuse me while I go to throw up now.
StolzeMama StolzeMama 7 years
Yeah, how do you prove that you saved 3.5 million jobs, whatever, done deal now. No to mention all of the hidden language in the bill that is now coming to light. 647 pages. Every pet project law makers have wanted to give money to... *sigh* Excuse me while I go to throw up now.
esmerb esmerb 7 years
These politicians are really trifling! Honestly they can afford to live a luxurious lifestyle unlike most of the citizens of this country!
organicsugr organicsugr 7 years
Not much of a compromise. Big difference between saving and creating 3.5 million jobs.
stephley stephley 7 years
Hope it helps Erin.
stephley stephley 7 years
Hope it helps Erin.
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