Home/Tag: TARP

Stimulus Introduced in House

The House Leadership released an outline of its proposed stimulus package yesterday with few surprises. The total package is $825 billion with $550 billion in new spending and $275 billion in tax relief. On the spending side, the package includes $550 billion in spending, and $275 billion for tax cuts. Some of the tax highlights include:

  • Making Work Pay Credit – offsets payroll taxes on the first $8,100 of earnings
  • Expanded Earned Income Tax Credit
  • Bonus depreciation
  • A five year carry-back of net operating losses (excluding companies receiving TARP benefits, Fannie Mae, Freddie Mac)
  • Extension of increased small business expensing
  • Tax-exempt bond provisions to help state

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2019-02-06T17:22:35+00:00January 16, 2009|

Bailout Watch

The ongoing soap opera of the auto bailout continues, with Congress failing to find a means of balancing the needs of Detroit with the concerns of taxpayers and Senate Republicans. As a result, the bailout stalled in the Senate last week and the Administration appears poised to step in and use whatever authority it has — TARP, Treasury, Fed — to provide the companies with the liquidity necessary to survive into the New Year and the next Administration. A nice little Christmas present for the Obama economic team, indeed.

Whatever happens, what is clear is that the plight of Detroit will

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2019-02-06T17:22:36+00:00December 17, 2008|

Auto Bailout Stalls Stimulus

Congress is back for the week, but we do not expect much to get done. House and Senate Democrats support allocating $25 billion from the Troubled Asset Relief Program to bailout the Big Three automakers, while the White House, Treasury and Congressional Republicans oppose expanding the program.

The auto bailout could be considered as part of a set of a broader economic stimulus package introduced by Senate Majority Leader Harry Reid (D-NV). We expect the Senate to take up some or all of the Reid

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2019-02-06T17:22:36+00:00November 19, 2008|

Second Stimulus on the Horizon

A second stimulus package is being formulated up on the Hill, but is by no means a done deal at this point.B Just before adjourning for the election, the House passed a $61 billion bill containing infrastructure spending, aid to state governments and increased unemployment benefits, which will likely serve as a starting point for second stimulus discussion.B That package included:

  • $30 billion for infrastructure projects including highways, bridges, transit and water projects;
  • $1 billion for public housing;
  • $2.6 billion for food stamp program;
  • A temporary increase in Federal Medicaid assistance to states; and
  • An extension in unemployment

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2019-02-06T17:22:36+00:00November 10, 2008|

Stimulus Introduced in House

The House Leadership released an outline of its proposed stimulus package yesterday with few surprises. The total package is $825 billion with $550 billion in new spending and $275 billion in tax relief. On the spending side, the package includes $550 billion in spending, and $275 billion for tax cuts. Some of the tax highlights include:

  • Making Work Pay Credit – offsets payroll taxes on the first $8,100 of earnings
  • Expanded Earned Income Tax Credit
  • Bonus depreciation
  • A five year carry-back of net operating losses (excluding companies receiving TARP benefits, Fannie Mae, Freddie Mac)
  • Extension of increased small business expensing
  • Tax-exempt bond provisions to help state

    (Read More)

2019-02-06T18:43:58+00:00January 16, 2008|