Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Its passage into law followed warnings from the president that the US could face an economic disaster if radical action was not taken. What is in the stimulus plan?

0
Posted

Its passage into law followed warnings from the president that the US could face an economic disaster if radical action was not taken. What is in the stimulus plan?

0

The stimulus plan includes a combination of measures designed to maximise its political support, including tax cuts, additional spending on infrastructure and aid to the US states, which are having their own budget difficulties. Senate Majority Leader Harry Reid said the deal “bridged differences” between an $820bn House version of the bill and a different $838bn version approved by the Senate. The earlier version approved by the House of Representatives, of which one-third was made up of tax cuts, included a $500 cut in income tax for individuals. Another big portion was money to help states close their budget gaps and avoid laying off state employees, as well as helping them pay more benefits to the less well-off. Finally, there were additional funds to invest in infrastructure projects, such as repairing roads and bridges, improving home insulation, and repairing classrooms. The plan agreed by Senate negotiators has more tax cuts – about 36% of the package – and a smaller amount of

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.