US Senate panel backs $522 bln package for stimulus

The U.S. Senate Finance Committee on Tuesday approved a roughly $522 billion package of tax breaks.

US Senate panel backs $522 bln package for stimulus
The U.S. Senate Finance Committee on Tuesday approved a roughly $522 billion package of tax breaks and spending aimed at spurring economic and job growth to reverse the downward spiral of the economy.

The measure will be combined with a $365.6 billion spending package passed by the Senate Appropriations Committee before the entire legislation, costing a total of about $887 billion, will be considered by the full Senate in the coming days.

The Senate Finance Committee voted 14-9 for its part which includes roughly $275 billion in tax breaks and incentives and $180 billion for helping unemployed Americans keep their health insurance and states facing big budget shortfalls. The senators added a $70 billion fix to the alternative minimum tax.


Reuters
Last Mod: 28 Ocak 2009, 08:25
Add Comment