House Dems offer $825B stimulus bill

$140 Billion for education and modernazation of schools is just a waste of money. Do you think this just might be a payback to the NEA union?-Lou

House Dems offer $825B stimulus bill

Package includes $550 billion in spending and state aid plus $275 billion in tax cuts. Pelosi: 'We wanted to get the biggest bang for the buck

NEW YORK (CNNMoney.com) -- After weeks of talks with President-elect Barack Obama's top aides, House Democrats on Thursday released an expansive economic recovery plan that calls for $550 billion in spending and aid to states and $275 billion in tax cuts.

House Speaker Nancy Pelosi, D-Calif., again expressed confidence that Congress would reach the mid-February deadline for getting a bill to Obama's desk.
But, she noted at a press conference, "this [package] is just the first step."
Pelosi said lawmakers tried to assemble a package of measures that would be most effective in stimulating the U.S. economy, which is now in its 14th month of recession. "We wanted to get the biggest bang for the buck."

The bill includes roughly $90 billion to modernize roads, bridges, mass transit and waterways, and over $140 billion, mostly to states and localities, to defray their costs for education and to modernize schools.

Read Article Here:
http://money.cnn.com/2009/01/15/news/economy/house_stimulus_bill/index.htm?postversion=2009011513