GOP Senators push for more tax cuts, dispute claim that stim is an infrastructure bill

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"I think you have to start from scratch and reconstruct this to -- start with the problem that created the entire cascade of events that have occurred here, the housing collapse," Kyl said on Fox News.

...

"I can tell you that I see support for this legislation eroding," Kyl said. "I think the more people around the country see of it, the angrier they get, because it's very wasteful. It spends way too much money. By the way, if you throw in the interest, it's over a trillion. It's about $1.3 trillion. And it's ineffective." Five Republicans voted for committee versions of the bill but that does not necessarily translate to support for the entire package.

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"The centerpiece of this is a $500 rebate to folks, about 27 percent of whom don't even pay federal income tax. That didn't work last year. It's not going to work this year. And so that's not a good place to start," Kyl said. "It creates 34 new government programs. It sends $84 billion to the states when about $10 billion would satisfy the so-called FMAP [Medicaid funding] needs that they have. It wastes a ton of money," he said.

"Republicans, I think, will come forward with ideas to start with housing first, let people keep more of their own money, and in that way really provide some stimulus and better hope for the future."

http://thehill.com/leading-the-news/senate-must-start-from-scratch-on-stimulus-republican-says-2009-02-01.html

Sen. Jim DeMint (R-S.C.) on Sunday said lawmakers should pass a package of tax cuts to stimulate the economy, objecting to Democratic spending proposals and repeating a position of House Republicans.

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DeMint said it was disingenuous for Democrats to fight for their spending priorities under the guise of stimulating the economy.

“The Democrats control Congress. If you want to spend more on roads, let’s do it," DeMint said. “But let’s not call it an economic stimulus package. Only 5 percent of this bill goes to roads and infrastructure and you’re trying to tell the American people that this is an infrastructure bill.”

http://thehill.com/leading-the-news/gop-senator-says-stimulus-should-focus-on-tax-cuts-2009-02-01.html

[dalegg 143]

I believe the dems have the vote in the Senate for the current bill even without most of GOP.

Judd Gregg is up for a Cabinet Spot, Olympia Snowe is already on board.

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I believe the dems have the vote in the Senate for the current bill even without most of GOP.

Judd Gregg is up for a Cabinet Spot, Olympia Snowe is already on board.

It's a shame, because some (not all) of the concerns expressed by the GOP Senators are valid (IMHO) and deserve addressing.

[dalegg 143]

Has there been any speculation to any Democrat or Independant Senators that might vote against it? Lieberman?

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More.

Senator Charles E. Schumer, Democrat of New York, said that Senate Democrats were interested in considering Republican proposals to do more to help the sputtering housing market, including instituting a $15,000 tax credit for all home buyers.

"One of the Republican proposals is to raise the $7,500 tax credit we give to new home buyers, raise it to up $15,000 and do it for all home buyers," Senator Schumer said on CBS’s “Face the Nation." "That’s something that we look favorably upon.”

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Senators of both parties also said on Sunday that they expected a significant amount of additional money — about $20 billion to $30 billion — to go toward infrastructure spending on such things as roads and bridges. Senator Schumer also said he supported an additional $5 billion for mass transit spending.

[dalegg 143]

Has there been any speculation to any Democrat or Independant Senators that might vote against it? Lieberman?

Here's one- Nebraska Senator Ben Nelson. Was he invited to the President's Superbowl party today?

[alienlovechild 75]

"One of the Republican proposals is to raise the $7,500 tax credit we give to new home buyers, raise it to up $15,000 and do it for all home buyers," Senator Schumer said on CBS’s “Face the Nation." "That’s something that we look favorably upon.”

The current tax break is for first time home buyers and expires in July, 2009. I think you have a household income of less than 100K/yr.

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I think you have a household income of less than 100K/yr.

It's 150k for a married couple.

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Has there been any speculation to any Democrat or Independant Senators that might vote against it? Lieberman?

Here's one- Nebraska Senator Ben Nelson. Was he invited to the President's Superbowl party today?

You're right. Interesting!

Friday, January 30, 2009

An influential Senate Democrat said Friday that it's unclear whether President Obama's $819 economic stimulus bill will win enough support to pass in the Senate.

"I don't even know how many Democrats will vote for it, as it stands today," Sen. Ben Nelson, D-Neb., told FOX News.

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Lawmakers are unhappy that the bill, passed by the House on Wednesday, contains billions of dollars for programs that arguably won't spark much job growth.

[dalegg 143]

I can only imagine the reaction by Sean Hannity and Rush if this thing passes by 1 vote and there are 2 Democrats against and 2 Republicans for.

[Dan J 277]

More.

Senator Charles E. Schumer, Democrat of New York, said that Senate Democrats were interested in considering Republican proposals to do more to help the sputtering housing market, including instituting a $15,000 tax credit for all home buyers.

"One of the Republican proposals is to raise the $7,500 tax credit we give to new home buyers, raise it to up $15,000 and do it for all home buyers," Senator Schumer said on CBS's "Face the Nation." "That's something that we look favorably upon."

...

Senators of both parties also said on Sunday that they expected a significant amount of additional money — about $20 billion to $30 billion — to go toward infrastructure spending on such things as roads and bridges. Senator Schumer also said he supported an additional $5 billion for mass transit spending.

I don't like a credit for home buyers. For two reasons primarily:

It pushes off the painful adjustment the home market needs to go through. The market got itself into this situation, it will eventually get itself out, but only in time.

For metro areas, unless the credit is restricted to condos, it will continue pushing low density urban development which other programs have done in the past. Which in turn makes other programs like public transportation much less efficient, and make us much more reliant on cars.

[NickD 203]

Who is that republican congressman that says the government should do just two things?

1. Defend this country

2. Pass laws that each of us is on a level playing field.

Sounds good to me, can anyone think of a third?

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For metro areas, unless the credit is restricted to condos, it will continue pushing low density urban development which other programs have done in the past.

I don't see that. If you're a young couple with a household income below 120k looking to buy in northern NJ, a $15,000 credit won't make a single-family home in a nice town affordable to you. You'd still have to buy a condo/th unless you were willing to buy in a lower end town.

Besides, in the built up metro areas where public transit is most promising (NYC and DC metros are two good examples), there isn't a lot of new building going on near the urban cores anyway. So whatever one buys will likely be out of existing housing stock. The little building that is going on is already high-density due to the dense nature of the neighborhoods being built in.

Who is that republican congressman that says the government should do just two things?

1. Defend this country

2. Pass laws that each of us is on a level playing field.

Sounds good to me, can anyone think of a third?

Flat screen TVs for everybody.

[Dan J 277]

For metro areas, unless the credit is restricted to condos, it will continue pushing low density urban development which other programs have done in the past.

I don't see that. If you're a young couple with a household income below 120k looking to buy in northern NJ, a $15,000 credit won't make a single-family home in a nice town affordable to you. You'd still have to buy a condo/th unless you were willing to buy in a lower end town.

Besides, in the built up metro areas where public transit is most promising (NYC and DC metros are two good examples), there isn't a lot of new building going on near the urban cores anyway. So whatever one buys will likely be out of existing housing stock. The little building that is going on is already high-density due to the dense nature of the neighborhoods being built in.

Cities in the eastern seaboard are petty well developed and have pretty good transportation systems. Outside of that area its another story. I live about a half a mile from downtown Minneapolis, you can by condos in a old converted building for about $90,000. A couple blocks away, there is a brand new building with condos starting at about $150,000.

A lot of people choose to buy way out in the suburbs, and then turn around and complain that the public transportation is not good enough out to where they choose to live. So they end up driving to work instead of taking the bus and only making traffic worse on the roads.

[one...two...tree 2,762]

Sen. Kyl is a horse's #######. He's one of the immovable hardliners of the GOP and one of the reasons why the Party has lost its grip.