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biz_stimulus_080206.sPubDate = "2/6/2008 11:08:58 PM GMT";
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biz_stimulus_080206.appHeader = "stimulus|THE PLANS";
biz_stimulus_080206.appDeck = "Key elements of rival economic stimulus bills, one passed by the House and the other a proposal by Senate Democrats:";
biz_stimulus_080206.appFooter = "Source: Associated Press";
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biz_stimulus_080206[i++] = new Array("","Tax rebates","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
biz_stimulus_080206[i-1].body = "Tax rebates
House: At least $300 to almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, as long as they earned at least $3,000 in 2007. Social Security and disabled veterans benefits do not qualify as income. People paying income taxes could receive higher rebates of up to $600 per individual and $1,200 for couples. Families with children would receive an additional $300 per child. The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children. Illegal immigrants are disqualified. Cost: $109 billion over 2008-2009.
Senate: $500 to almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, as long as they earned at least $3,000 in 2007. Social Security and veterans’ disability income would qualify. Couples would get $1,000, and families with children would receive an additional $300 per child. The full rebate would be limited to individuals earning $150,000 or less and couples with incomes of $300,000 or less, but a partial rebate would go to individuals earning up to $160,000 and couples earning up to $320,000. The caps are higher for people with children. Members of Congress could not receive a rebate. To bar illegal immigrants from getting rebates, recipients and their spouses and children would have to have valid Social Security numbers. Cost: $126 billion over 2008-2009.
";
biz_stimulus_080206[i++] = new Array("","Businss tax write-off","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
biz_stimulus_080206[i-1].body = "Businss tax write-off
House: Calls for “bonus depreciation” and more generous expensing rules to spur business investment.
Cost: $51 billion in over 2008-2009.
Senate: Contains comparable provisions on business investment incentives, while also allowing businesses suffering losses now to reclaim taxes previously paid. Adds other tax breaks to boost renewable energy, including tax credits for energy-efficient businesses, appliances and homes. Coal companies could reclaim $300 million in export taxes they paid before 2000.
Cost: $63 billion over 2008-2009.";
biz_stimulus_080206[i++] = new Array("","Housing rescue","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
biz_stimulus_080206[i-1].body = "Housing rescue
House: Allow more subprime mortgage holders to refinance into federally insured loans by raising the limit on Federal Housing Administration loans from $362,790 to as high as $729,750 in expensive areas. Increase the availability of mortgages by providing a one-year increase in the cap on loans Fannie Mae and Freddie Mac may buy, from $417,000 up to $729,750 in high-cost markets.
No cost.
Senate: Identical provisions on FHA and Fannie Mae and Freddie Mac loan limits. Provides mortgage financing relief for homeowners with subprime loans by expanding the availability of state and local government bonds and raising the cap on the bonds by $10 billion over the next three years.
Negligible cost.
";
biz_stimulus_080206[i++] = new Array("","Unemployment benefits extension","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
biz_stimulus_080206[i-1].body = "Unemployment benefits extension
House: None.
Senate: Extend unemployment benefits by 13 weeks beyond the 26-week cap presently in place. Additional 13 weeks for unemployed people in states where the jobless rate has averaged 6.5 percent or more for three months.
Cost: $15 billion over 2008-2009.";
biz_stimulus_080206[i++] = new Array("","Heating subsidies","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
biz_stimulus_080206[i-1].body = "Heating subsidies
House: None.
Senate: $1 billion in additional 2008 funds for heating subsidies for the poor.";
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biz_stimulus_080206[i-1].body = "Total cost
House: $161 billion over two years.
Senate: $205 billion over two years.";
// END editorial data