What the new Stimulus Plan will mean for Amercian Families
Most of us know that the House passed President Obama’s Stimulus Package and it is now being passed through to the Senate for approval. First, the Senate and House will have to reconcile their versions of the package, which would also have to be negotiated with the Obama administration. This could be a sticky process, to say the least, since the details are far from bipartisan and current debates are drawn heavily on party lines. If and when the Senate passes it it will end up on the president’s desk for final approval.
But what does it mean for the millions of struggling families or unemployed families? Will there be check sent like the Bush Stimulus? How will parents and their kids benefit from the current draft of the bill?
Understanding that this package has not gained final approval and is still going through substantial revisions, the centerpiece of the current draft promises for American individuals and families a tax break, not a stimulus check. Individuals will receive $500 and couples $1000. Aside from the tax incentives, there is more of an effort to provide heavy-handed government subsidies for COBRA health coverage going to unemployed individuals and older workers as well as the high profile job creation portion of the plan. The job creation portion of the plan as it is currently stated would shore up the Education Sector to avoid lay-offs and cancellation of existing programs (ex. Head Start, Early Head Start, etc.).
A recent audit of the bill brought the original number of $819 billion to $816, but there is ongoing mentions of additional tax incentives and other initiatives that may be tacked on (or deleted) to get it through the Senate, which have estimates pushing it as high as $900 billion. The bottom line is it is still a work-in-progress. The fact that there is little bipartisanship in the House or Senate means that there will probably be quite a few drafts before it is pushed all the way through.
Related Links;
NY Times | House Passes Stimulus Plan With No G.O.P. Votes
US News | 3 Ways the Stimulus Package Would Help Laid-Off Workers
meta-DAD | How the 2009 Stimulus Plan will benefit me and my family
February 6th, 2009 at 9:41 pm
What will a tax break give individual families. In order for us to get out of this situation it would be much better for us to have a stimulus check rather than having a tax break. USA needs to buy things in order for business’s to turn profits. Yes, we will get money from a tax break. But it will not be as much as if they gave us the money straight out.
February 9th, 2009 at 3:39 pm
I agree, What will $10.00 a week in my check get us? Will most people even notice? I would like a check to make a dent. Cross off giving money to some “pork” project to get votes,and help those of us that need it. I make $40,000/yr for my family of 3 and probably won’t see anything out of this trillion dollars that my daughter will be paying for someday. Thanks Congress,
February 11th, 2009 at 8:43 pm
I think that this package is not going to do enough for immediate relief which is what people need. My husband was unemployed for 18 months just got a job a week ago,Im on disability (not by choice),and we fight creditors every day and our mortgage company Country wide will not give 1 inch!!!. If your 1 week behing the calls start coming and forget about partial payments its all or none! Where is the help there. Where all still in jeopardy of loosing our homes. The country needs help and the housing market needs to work with families more .
February 12th, 2009 at 11:49 am
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February 14th, 2009 at 10:14 am
Definetly a check sent to us will help us a lot more than a big $10.00 more on my check. What difference is that going to make. I am supporting 3 kids on my own, working two jobs, I also would rather have a check to make a dent in things. No one is going to go out and buy things if they can’t pay their bills. My morgtage and car payment comes first before entertainment. A stimulus check would make everyone much happier.
February 17th, 2009 at 1:17 pm
Bush gave stimulus checks and that got us nowhere chris. why would it help just because Obama does it?
February 18th, 2009 at 12:48 pm
My husband has worked for the same employer for 24yrs. Last Monday he was called into the office and offered to be laid off (package) or take a job with lessor pay.$250 less in pay take home.His gross pay was $820, after taxes and other deductions his direct deposit was $575. We have rent of $1600 because its florida and a 20yr old in collage. I get social security and have for 23yrs thats $747 how and we have one car one car payment, I do not drive I am visualy impaired since birth.So what will $10 or $13 a week do for us we had no buying power befor. His new hourly wage is going to be $14.65 an hour it was $21.Why don’t you ask Obama what I should do? Is there going to be a bail out for renters? With my limited vision to use public transportation the rents are very high to live on a bus rute, that is so backwords.Our pay has been slashed but rent food gas and everything else has swelled, Who are we to get by?
February 27th, 2009 at 1:48 am
Why are we are looking to the gov’t to fix things? Our problem is that we have asked for a bigger and bigger gov’t to ‘give’ us things—things come at a cost. If we do not start acting like men and women that want freedom then we will continue in this downward spiral of big gov’t. It is time to take responsibility for our over spending and consumerism that has gotten us into such messes and stand up, vote more, not just be aware of who is in office but take control of whom we are putting in office.