I indicated earlier that I didn’t think that a second economic stimulus package would be considered until after the elections – and it looks like that is, in fact, the case. I’m actually still confident that any stimulus package which includes “tax rebates” would not result in checks being mailed out until the new year.
Nonetheless, Democratic leaders have indicated that they will pursue a second economic stimulus package as soon as two weeks after the elections. The package is said to include extended jobless benefits, money for food stamps and maybe – just maybe – another tax rebate. The cost of the additional package is estimated to be $150 billion.
But talking is just that – talking. The real challenge is that even if the Democrats won the White House, any attempts at pushing new legislation next week means negotiations with the current President; most agree that President Bush, who remains in office through January 20, 2009, is not likely to agree on the House version of the bill as it is contemplated today.
House Speaker Nancy Pelosi believes that some stimulus is necessary. Senate Majority Leader Harry Reid agreed, saying:
“recent developments only reinforce the need for additional action to reinvigorate the economy.”
The House had passed a $61 billion economic stimulus package just before the election break but the package was never really intended to become law; the GOP Senate had already indicated opposition to the bill. That package included jobless benefits, Medicaid assistance and improvements to the nation’s infrastructure. There were no rebate checks included in that bill.
With respect to a new stimulus package, Republicans are said to be “skeptical of a second stimulus” but are not necessarily opposed. The main concern is the proposed cost of the plan, considering the state of the economy. The nonpartisan Congressional Budget Office has reported that the federal government will run a near-record deficit of $407 billion this year and next year’s deficit could reach a record $438 billion. This does not include expenditures related to the bailout.
The Democrats in the Senate appear to echo the Republicans’ concern on some level. When speaking about a second stimulus package, Sen. Charles Schumer indicated support for a package that could range from $50 billion to $75 billion. A package of that size would almost certainly not include additional rebate checks.
So even if the House gets its way, don’t get too excited: all indications are that rebate checks would be limited. The last stimulus package included $100 billion of rebate checks and still left many taxpayers out completely. Even the “best case” scenarios being presented hint that a second round of rebate checks would total less than $65 billion, meaning that even more taxpayers would be left out of the second package.
It’s that last part that the Democrats have to keep in mind. The last round of checks left many angered that benefits were not extended to all taxpayers; to then extend a second round of benefits to fewer taxpayers (approximately 1/3 less) may cause widespread dissension.
What do you think? Good idea or not?
KPE
Say it isn’t so!
The first time Congress tried sending out “stimulus” rebate checks the end result was a mucking fess.
I am sure that when the dust settles next April the most recent program of rebate checks will prove to be just as mucking, if not more, of a fess.
To quote an anti-war anthem of my high school and college days – “When will they ever learn?”
TWTP
The first one was a pretty dumb idea, this one is just moreso. Not surprising from Congress, we’ll get even more of this with the Dem’s controlling Congress and the White House. Oh well, it’ll be good for tax people, there’s no way they’ll simplify things.
lets give it all away to the corporations. The people
of the united states don’t really want a portion of their
tax dollars now do they. the house and senate are up there in washington to help Corporations “right” ?
To all the people that say the stimulus package is a bad idea, stupid, or however they decide to describe it, make sure to write “Return to Sender” on your check. Or, even better, call the Dept. of Treasury and let them know to NOT send you a check.
The rest of us Americans that have been laid off, had their hours/benefits cut, etc. will gladly accept any help that the Federal Government decides to give us.
I Agree with William Moriarty.
i agree with mr. moriarty.. i bet he ones who are against this second round of checks are the ones who would be first to ask where theirs is …
so as with mr. moriarty just hand it back to the mailman when you get yours and say no thanks i am rich enough and let people like me who work 8 to 10 to 12 hours a day to raise their kids have it
I feel the americans should have a second stimulus check.Alot of folks are stuggling.
the takes that we pay goes for the roads.
we are not well off like Mr Moriaty if he is so concerned with the roads let him pay for the roads and let Americans have there checks.
I dont know what Doris is saying??? Anyhow, as a mother of 3 and a mortgage paying, 12 hour a day working nurse, wife, and TAX PAYER, I feel that the stimulus checks are a great idea. I just wish that some of the “less fortunate” in our country would help themselves a little more. I feel that our country’s welfare programs are dragging us down, almost every state is burdenned by it. Where are the standards and rules and regulations for these people that get their doctor bills apid for and can go to the doctor for a hang nail anytime they wish? Where are the drug tests for the food stamp recipients? I have to have one. So yes help those of us who bust our backs, but for those who work 3 out of 12 months a year at McDonalds to qualify, give them what they are worth!
I think that Americans could use more help from the government with a second stimulus check. Instead of them sending the money to other countries give it to there own country. However many people out here have the wrong idea about people who get welfare. I am a mother of two wonderful children and yes I do get foodstamps and medical but no I am not lazy and I do not just work enough in a year to quilify. Many people thinks that people on warefare are bums but that is not true. Yes there are some who are but there are others like me who are not.There is no jobs around me that pay more then 7.00 an hour and with working 40 hours a week at the jobs that hire for 40 hours a week you still do not make enough money to pay your bills and keep gas in the car to get to work and pay child care for your kids. So people should get your facts straight before you go bashing low income people who the only way to make it is to get help from the government.THEY ARE WORTH SOMETHING TOO.
I fall into both the low income, and McDonalds working, single mom. I was really hoping for the second stimulus. I work two jobs, I receive foodstamps and medical, thank god! My son suffers from mental illness, which makes working even more difficult, because I cant afford to hire someone trained to care for my son. I make too much to receive SSI (???) for him. Not all people who receive foodstamps or medical or work at the local Mcdonalds(the only employer that I could find to be accomidating to my available work hours) are lazy, uneducated people. My kids will have a very small Christmas this year and the second stimulus wouldve been great!
I agree with Jenn and Jupitergirl. Some people do deserve the government’s help and some take advantage of the system. We could weed these greedy slimes out by doing drug testing, background checks and so forth. Not everyone is fortunate to have a good paying job. No offense, but some aren’t born with any “brains” or rather, some just receive different gifts from God than others. They shouldn’t be punished for it. You never know what is in store for you. You could be rich one day and homeless the next. Try to see issues from different perspectives because there is never just one.
There’s no quicker way to stimulate than to give a rebate directly to the consumer/taxpayer. 2/3 of all economic activity is consumer spending. DUH!!!
I think that a second economic stimulus check would be good,as much as we have taken out of our checks for taxes can we see where our tax dollars are going?I also don’t agree with people talking about people on welfare are lazy that is not neccessarily the case. Around where I live we literally have to pull teeth to get a bridge or anything else for that matter fixed so they cannot say that’s where our taxes are going.(try again)The economy is messed up right now and I think that everyone should get a stimulus payment except those that feel that they don’t need it.
i agree what Nita,Jupitersgirrl and other say for a second stimulus check.now is the time to take care our own needs in America!our country,started from 13 original colonies to a great nation.Let it remain that way.”A Great Nation”Our Economy is a mess!it needs to stimulate,lets do it..we have a new adminstration change coming in Januarary,lets us again become a Government, to the people,for the people and by the people in that order.let it be a person’s own choice to take a check or not.
Let us keep our American dream alive.while we still have our dreams to fulfilled to our future generations of americans.”God Bless America”.
Ok, there is still one question remaining. When are we going to get the second stimulus check? Will it be in the near future. “Some of us werkin class folk sure could use it” Especially when our spouses have lost thier job due to greedy corporate jerks.
ya i would like to now to are we going to get this stimulus check yes or no ?and when i heard that we were getting them by christmas but i think were like 2 or 3 weeks away and then i heard that we are getting them when we do our income tax that it will be on there so ya please tell me what is going on i could really use that check .
There is no additional check on the way as of this writing.
are we still getting the second stimulus
I believe the taxpayers should get a second stimulus check… a sizeable one! If we can bail out banks, insurance companies, the auto industry (which we do need desperately) then why can’t the US consumers be helped? You know it makes me so angry that all that money went to AIG & they gave “bonuses” & guess what, we paid for that!!! In biblical times, the debt was wiped out every 7 years. Hello… give us the money & let us bail our Country out … pay our mortgages off, our loans, have money to send our children to college, after all, they are our future & with things looking the way are right now, there may not be a future for them. Get the picture? I believe most people would do the right thing with the money. I know I would! I believe the infrastructure plan will help the economy in the “long” run, but we need immediate help … we need a bailout!!
I hope we do get another stimulus. Although, they had planned for us to spend the first one frivolously, I (like many I’m sure) used mine to pay off bills. I could use a little bit more to catch some other things up as well.
The second part of my comment is directed more towards Jen Sells. Do you think you are better than me? Because from where I’m standing your *hit still stinks. How dare you bash every low income person in America. Do you think we want to live like we do? Do you think we ENJOY not having nice things? Since you touted off your accomplishments so shall I. As a working, TAXPAYING, mother of two, wife to a disabled husband, food stamp and medical receiving, DRUG FREE, college student, I am highly offended by your ignorant comments. And I know you are probably saying something equally ignorant to yourself about me probably being a teen mother too or something. (in case you are, I was 24 when my first was born, thank you very much). I wont deny that there are abusers of the system, and yes they need to do something about it, but you cant lump us all together like you did. With what i receive from the government and my wages, i still struggle to make ends meet. So I would like to know how you think the government is supporting me? I work in a factory, I make $14.00 an hour, I go to school full time, and I get $450.00 a month in food stamps. I own my own car, own my own house, not a lot of people can say that. And nobody pays for those things but me. I do thank the government for what little help they do give me. For without it the things i do have would have been next to impossible to achieve. My husband and I both have medical problems, and with our bills we would never make it. And by the way, we still have co-pay’s on medical, so its not like we can go to the doctor for a “hangnail”, we still have to pay some of it. Just thought you should know. Get your facts straight next time.
A simple solution to the economic crisis. For less than 50 billion dollars, We The People could turn our economy around within 90 days upon receipt of this money. Here’s the breakdown and criteria.
You must be an American citizen and paid into the tax system for at least 5 years.
HOUSEHOLDS making 15k to 29k recieve 50k tax free dollars
HOUSEHOLDS making 30k-100k receive 100k tax free dollars
HOUSEHOLDS making 101k to 200k receive 5ok tax free dollars
Seniors on SSI receive 25k tax free dollars
This money would stop the foreclosure/decline of the housing crisis, stop the credit crisis, stimulate the economy with spending in the retail/consumer goods markets, and allow We The People to benefit from the blood, sweat and tears we have endured trying to live in a society that rewards the corruption that is unchecked in our Government and Corporate institutions.
Give us back OUR money.
I originally came here to find out about this 2nd stimulus check and have read through all the comments.
First off, I would like to say “THANK YOU CHERILYN!!” AND second of all, I want to say “HOW DARE YOU JEN SELLS!!!!” Not everyone who gets “assistance” is lazy nor are they drug users, sellers or whatever you think they are! I don’t know where you are from for you to think you are better than everyone else, but I really hope your 3 kids don’t grow up thinking the same way that you do!!! You should really be ashamed of yourself and I sure hope that I never meet you in one of our hospitals here. In my opinion, you would be one of those nurses that are really bitchy towards people who come in for their “hangnails” as you put it. I don’t take my child to the ER or Dr.’s for stupid crap like that and I would bet that most of the people here reading this don’t take their children or family members in for reasons like that. But for your information (and I wasn’t even going to comment here until I read your message), my husband was working as an OTR truck driver for a company who laid him off in June when the company could not afford to operate all their semi’s. My husband applied for unemployment (what he has paid in all these years) and the amount he was receiving was not even 1/4 of what he was making driving truck! He then took a job at one of our local companies (where it takes almost a month to get what he would driving truck) because he could not handle sitting at home not working. This job he took only pays $45 more than what unemployment pays weekly. NOW, this does not include the TAXES that are coming out of his gross pay nor does it cover the gas expense of driving 26 miles one way to work (would have been cheaper for him to stay home and collect his benefits he earned) . Here is the kicker … this job he took, has also laid him off because of the economy! At first it was only supposed to be for 2 weeks, but the day he returned to work, they told EVERYONE to go home until they called everyone back.
We do not get food stamps because they say he makes too much on unemployment but we do qualify for medical help. We really could use help with groceries like alot of other people could use help. If he had to work at McDonald’s to make ends meet, you can guarantee he would work there to take care of our family (I can’t work because of a back injury from a car accident years ago). Just think, if people didn’t work at McDonald’s, how would people like you be able to stop there on their way home from work to pick up a quick supper??? Bet you didn’t think of that did you? Or do you look down on people who work there too?
I also would like to point out while I am here, that when my husband was driving semi he was away from home sometimes 3 weeks at a time just so we had an income. If it was not for truck drivers, the goods would not get from point A to point B for people to buy, and with the cost of fuel going up alot of trucking outfits had to shut down. Lots of companies are shutting down and people all over are losing their jobs.
I say this for our family and probably for alot of other families out there, we could use another round of stimulus checks. And Jen, before you look down on another person, you should really ask yourself what you would do if you were ever in the same situation as alot of other families who have no choice but to seek outside help.
Sorry this got so long, but I had to speak up for all of us people who Jen has offended! Oh yeah, are we going to get a stimulus check???
I think that a second economic stimulus check would be great! I was laid off from my job Sept of 2007 and still have been unable to find work where I live bc of the economy. I am still applying to 5 or 6 jobs a day to find anything here. My husband is paying all the bills and there’s nothing I can do to contribute my part. I even went to school online for the year of 2007-2008 hoping that I would get a job in what I majored in but still no such luck. The economy is bad and every person could use any help they can. I would be able to catch up on my bills again with my check and provide more for my son. I never have been in the posistion I’ve been in the last year and a half but I wish it on noone!
If americans get another check at least they can spend it on food and be happy for a few weeks.Not have to eat mac and cheese for weeks.
Is a tax rebate included in Obama’s economic stimulus package?
Not a rebate, but a tax credit. More on this on Monday.
What about the retired & disabled? Although the retirees are no longer working & the disabled are not able to work, & some disabled have paid taxes up until disablity occured, why are they not even mentioned in the economic stimulus package? I’ve not heard anyone speak of these 2 categories. I am a little confused about this one.
Judy, be sure and read the update on this:
We live on disability,which isn`t enough to even eat all month.I want to know when we will get our stimlus check in 2009? How much can we expect?
The disabled and retirees should receive a check for $250 in late spring. The actual dates have not, as I understand it, yet been made public. For more on the stimulus package for individuals, see my prior post: http://www.taxgirl.com/making-work-pay-credit-could-surprise-some-taxpayers-in-2010/
Yes I think we need a second check. Things have gotten so bad and in order to try to make ammends and turn things around you need to catch things up pay some things off and start with a fresh start in trying to improve the economy. Those checks will help most people accomplish this. Please do not talk so bad about the welfare system, no i’m not on it but plenty people do need it. I know many people are abuseing it; but some are not like the elderly, disable, mentally impaired, homeless, and so forth. Yes i see people every day and wonder why they need food stamps especially, when i see old people with 12.00 worth and them with over 7 hundred dollars worth, where is the justice in that. So definitly we deserve and need a second check or at least i do.