FLASHBACK: McConnell Said Stimulus Not Going To Have Any Problem ‘Getting Over 60 Votes’
FLASHBACK: McConnell Said Stimulus Not Going To Have Any Problem ‘Getting Over 60 Votes’
Yesterday, the House passed the American Recovery and Reinvestment Act on a 244-188 vote, with every Republican voting against the legislation. Now the bill passes to the Senate for debate and a potential vote next week.
The Senate version of the legislation is not entirely in sync with the House’s version. As McClatchy reported last week, the Senate Finance Committee has already “added some provisions desperately sought by corporate America“:
The Senate bill includes a pro-business tax provision called bonus depreciation, which would allow companies accelerated write-offs of existing equipment and inventory if they make new purchases. The Senate version also incorporates a complicated but important provision that the U.S. Chamber of Commerce and other business groups are pushing. This measure, which isn’t in the House bill, would allow some companies to reduce taxes if they buy down their debt between late 2008 and 2011.
Even with these extra business provisions — which conservatives have complained are absent from the House bill — 9 out of 10 Republicans on the Finance Committee voted against the draft.
Sen. Mitch McConnell (R-KY) said just few weeks ago that “I don’t think [the stimulus is] going to have any problem getting over 60 votes.” He also reportedly promised that Senate Republicans “would not filibuster against the stimulus package.” Will McConnell keep his word? Or will conservatives continue to deride the economic recovery while advocating a return to Bushonomics?
2 Responses to “FLASHBACK: McConnell Said Stimulus Not Going To Have Any Problem ‘Getting Over 60 Votes’”
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I’m confused. How could we return to Bushonomics when we have have yet to leave?
January 29th, 2009 at 3:35 pmWhy doesn’t the congress see that giving the money to the citizens will stimulate the economy? We,the taxpayers, are the economy. Funding the citizenry will put money into the economy by the purchase of goods and services, which will stimulate all business levels.
January 30th, 2009 at 9:56 amFunny that congress does not realize the fact that we don’t have any spending money anymore. No jobs = no money for anything. All of the “jobs” the congress thinks they are creating will take months to get into the pipeline, if any do.
Let the people create the jobs by purchasing with the bail out money. This is a sure thing, not an economic theory.