U.S. Senate Approved $522 Billion Package
Wednesday, January 28, 2009 at 12:30 pm
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.
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