Friday, February 19, 2010

New Stimulus Bill Likely To Fail In Senate

Let's hope so.

Reid opted for a smaller package after fellow Democrats complained it gave away too much to businesses and did not do enough to help those looking for work, aides say. Other job-creating efforts are expected to advance separately.

Since the tax breaks and spending measures are paired with a crackdown on offshore tax shelters, it would actually lead to $8.7 billion in savings over the coming decade, according to the nonpartisan Congressional Budget Office.

That estimate does not take into account the $19.5 billion that would be used to help pay for highway construction.

Calling a spending bill a "jobs bill" doesn't make it one, any more than calling it a "stimulus bill" makes it stimulate anything. Why not just "crack down" on offshore tax shelters without the spending? Who's opposed to that?

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