-
Jan 24, 2008 5:15 pm US/Eastern
-
Digg |
Facebook |
E-mail
|
Print
Casey: 'Concerns' About Plan To Boost Economy
(KDKA)
A plan to boost the economy is coming together.
Congressional leaders have struck a deal with the White House that would give most taxpayers refunds.
House Speaker Nancy Pelosi said House Democratic and Republican leaders reached an agreement with Treasury Secretary Henry Paulson on a stimulus package.
"It is timely, it is targeted, and it is temporary; and it was done in record time since our conversation with the President, again, in a bi-partisan way."
"This agreement is a big win for the American people," adds U.S. Representative and House Republican leader John Boehner. "It will stimulate our economy in the most direct, effective way possible by putting income in the hands of middle income American families."
Under the plan, officials say individual taxpayers could get a $600 tax rebate and married couples a $1,200 rebate.
Those who pay no taxes but earn at least $3,000 will get a $300 rebate, and the plan provides an extra $300 for each child in a household. But rebates are capped so that individuals with incomes over $75,000 and married couples with incomes over $150,000 get smaller rebates with no rebates for individuals who earn over $87,000 and couples over $174,000.
The Senate has not agreed to this package and Senator Bob Casey said he has reservations.
"I'd be very concerned about any agreement that doesn't include unemployment insurance, for example, as a way to stimulate the economy," said Casey. "I would also like to see help on food stamps."
House Democrats dropped both an extension in unemployment benefits and more food stamps to reach a compromise with Republicans, but Casey says it's lower income folks who are more likely to spend money to boost the economy, not save it.
"Get it into the hands of people who will spend it quickly," added Casey. "Obviously, to spend money on food is very important, and obviously unemployment insurance will help, as well as rebates."
(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)