By Martin Vaughan Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The Senate Finance Committee is aiming to begin formal consideration of economic stimulus legislation on Jan. 8, according to a Senate aide.
The package is expected to include between $600 billion and $700 billion to jump-start the economy, and congressional leaders say they want to pass it before President-elect Barack Obama takes office Jan. 20.
Senate Finance Committee Democratic aides have put the word out to committee members that committee consideration of the stimulus bill is tentatively set for Jan. 8, according to Senate aides.
The panel's chairman, Sen. Max Baucus, D-Mont., said in a news conference last week that tax cuts for businesses and individuals could comprise as much as half of the package. U.S. House Speaker Nancy Pelosi on Monday estimated the tax portion of the package at closer to one-third.
Committee staff are accelerating discussions among themselves and with officials in the Obama transition team over details of the package, people familiar with discussions said.
The tax portion is expected to include a tax cut for middle-class families. Still unclear is whether that tax benefit would come in the form of a rebate check, or through some other mechanism like a payroll tax credit that would immediately raise the taxpayer's take-home pay.
Baucus said business tax provisions will likely include tax credits for renewable energy, and extensions of temporary provisions like the research tax credit.
- By Martin Vaughan, Dow Jones Newswires; 202-862-9244; martin.vaughan@dowjones.com
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Publié le 16 Décembre 2008 Copyright © 2008 Dowjones