FACTBOX - U.S. lawmakers strike deal on stimulus bill

Thu Feb 12, 2009 1:24am GMT
 
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(Reuters) - Negotiators for the U.S. House of Representatives and Senate have agreed to a package of $789 billion (548 billion pounds) in emergency spending and tax cuts in an effort to pull the economy out of a deep recession.

Details of the agreement have not been published as budget offices go through the details to calculate the cost of the legislation, but here is a summary of information and rough estimates provided so far by negotiators.

*Tax provisions total $282 billion, with the remaining approximately $507 billion in spending and other provisions.

* A "make work pay" tax credit championed by Obama is $400 for individuals and $800 for couples. Earlier versions called for a tax credit of $500 and $1,000 respectively.

* A tax credit for home buyers worth about $8,000. Earlier proposals put the credit as high as $15,000 and as low as $7,500.

* Temporary alternative minimum tax relief for more than 20 million taxpayers who otherwise would face paying the tax originally meant for the wealthy.

* About $90 billion to help states pay for Medicaid health care for the poor.

* $150 billion for infrastructure including transportation, high-speed Internet service and energy projects.

* $54 billion for a state stabilization fund to help states plug growing budget gaps and pay for school modernization projects. Earlier proposals had put state aid as high as $79 billion and school construction at as much as $16 billion.   Continued...

 
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