Jun 04 2009
HR1 Stimulus Package approved
Economic Stimulus Package
The highly debated HR1 Stimulus package got the final vote in the Senate to pass and is now on its way to the Presidents desk. The final vote was cast by a thumbs given by Democratic Sen. Sherrod Brown of Ohio. The 1100 plus page bill will be passed into law with a lot of debate as to what it actually contains. Most of the Senators that voted for the bill could not have had time to read the entire bill but know some of the highlights. As more of the details of this bill are rolled out the veteran mortgage rates are seeing some relief as well as those for non-military personnel.
“In addition to tax relief for individuals and businesses who purchase new equipment, lawmakers inserted breaks for first-time homebuyers and consumers purchasing new cars in an attempt to aid two industries particularly hard-hit by the recession. In response to pressure from lawmakers from Pennsylvania, Indiana and elsewhere, the bill was altered at the last minute to permit the buyers of recreational vehicles and motorcycles to claim the same break as those buying cars and light trucks.”
The NY Times reported on some of the details of the 2009 Economic Stimulus package and its proposed dollar amount.
The American public will have to wait to see the true benefit of this bill so stand up to hold those elected officials accountable for their actions and make sure that they money is used to create jobs and bring back the confidence of the American System.