Excerpt from: GFT News
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| January 29, 2009 | | Tax cuts, massive spending highlights of economic stimulus bill |
The most recent economic stimulus bill has passed hurdle #1 for becoming law: It has been passed in the U.S. House of Representatives. Here are some of the highlights regarding what is contained in this economic stimulus package:
- Tax cuts for businesses and for individuals. Businesses will get $20 billion in tax cuts, while individuals receive either $500 or $1,000 spread out over two years.
- Spending for infrastructure and renewable energy. This should help provide jobs, and benefit the economy in the long term.
- Education spending to help college students and secondary students.
Additionally, there were measures to spend money on STD education, a supercomputer and to update and repair national treasures, such as the National Mall.
It will be interesting to see how the House version reconciles with the more expensive Senate version. In any case, Congressional Democrats hope that it is a done deal by the middle of next month.
| Topic Tags: currency trading, economic stimulus, economy, forex trading, government spending, renewable energy, stimulus package, tax cuts | |
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