03/11/2010

Like it or not, here comes more stimulus

 

Like it or not, here comes more stimulus

There’s a push to extend some expiring provisions from the American Recovery and Reinvestment Act. But it will be done in bits and pieces.

You won’t see it all in one neat package. And you won’t hear the White House call it stimulus.

But there’s a good chance lawmakers will decide to extend some of the stimulus measures included in the $787 billion economic recovery package passed in February and possibly create some new ones as well.

On Wednesday, House Democrats are convening a forum of economists to debate the state of the economy, with a specific focus on job creation. And lawmakers are convening hearings on Capitol Hill this week to discuss the economic outlook and the state of the housing market.

A number of ideas on the table are lifeline measures, while some are flat-out incentives to spur economic activity.

Here’s a rundown of what’s under consideration, estimates of what the provisions might cost and where they stand currently in the legislative process.

Unemployment benefits extension

By year-end, an estimated 1.3 million jobless workers will have run out of unemployment benefits, according to the National Employment Law Project.

It’s expected that lawmakers won’t let that happen.

The House has already approved an extension and the Senate has amended it but not yet voted on it. Both parties say they want to extend benefits but they disagree over how to pay for it and how to handle amendments to the bill.

In the Senate proposal, unemployment benefits would be extended by up to 14 weeks in every state and then another six weeks on top of that in states where the unemployment rate tops 8.5%.

Read more at: CNN Money.com

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{Photography by Nick Starr}

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October 22, 2009 | Filed Under Financial Crisis | Leave a Comment 

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