The House amended and passed the American Recovery and Reinvestment Plan but still without support from republicans. House democrats drafted the bill, as President Barack Obama urged for a bill that would receive support from both parties, but even with some parts catering more towards republican wants, there were no votes support from the party. The final vote was 244 to 188. Obama is still hoping for a few more changes to get support all around: "I hope that we can continue to strengthen this plan before it gets to my desk... We must move swiftly and boldly to put Americans back to work, and that is exactly what this plan begins to do." The bill as passed by the House includes $607 billion for infrastructure and other direct spending measures, and $212 billion in tax cuts. Earlier predictions for the tax cuts were much higher, and republicans wanted to see less spending and more tax cuts. While overall it appears that this bill will help American's keep and create jobs there is a lot of room for improvement still. Let's hope that the Senate can make that happen.
Making Work Pay Credit
Under the Ways and Means Committee, the details of the Making Work Pay Credit are still unchanged fromthe draft version. American's can expect to receive 6.2 percent of earned income or $500 ($1,000 in the case of a joint return) whichever is lower. The specifics on how this will work are still not clear, but it is apparent that this will come in the form of reduce tax withholdings over 4 months time. This amounts to around $60 per paycheck.
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