MSNBC is announcing that Congress has reached a 'bipartisan' agreement on this bogus stimulus package
All smoke and mirrors
here is the details i caught
if you earn under $75K you get $600
couples under $150K get $1200
each child gets you $300
if you pay no income tax you get $300 provided you earned at least $3K
business gets breaks as well
all this by June
of course this short term band aid is completely misses the mark of fixing the long term problems
more details as they come available
i couldnt type and listen all that well
Meanwhile Housing prices continue to drop
UPDATES (from AP)
Another element of the plan is a package of tax breaks for businesses that could cost $70 billion, far more than had been expected, said a senior House aide and a Democratic lobbyist said.
To address the mortgage crisis, the package also allows Fannie Mae and Freddie Mac — government-sponsored companies that are the two biggest U.S. financers and guarantors of home loans — to buy home mortgages much larger than the current $417,000 limit. Rep. Barney Frank, D-Mass., and chairman of the House Financial Services Committee, said that lending cap might reach as high as $700,000 in areas with the highest home prices.