Hastert Factsheet on Economic Stimulus Bill
DEC. 19, 2001
Hastert Factsheet on Economic Stimulus Bill
DOCUMENT ATTRIBUTES
- AuthorsHastert, Rep. J. Dennis
- Institutional AuthorsHouse of Representatives
- Cross-Reference
- Subject Area/Tax Topics
- Index Termslegislation, taxeconomytax reliefhealth care and insurance
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2001-31296 (2 original pages)
- Tax Analysts Electronic Citation2001 TNT 245-30
=============== FULL TEXT ===============
Economic Security & Worker Assistance Agreement
Americans Want Action NOW!
[1] After meeting today in the Office of Speaker Dennis Hastert (R-IL), President Bush announced he's reached agreement with House & Senate Democrat Centrists on his economic security & worker assistance package. The timing of this bipartisan compromise could not be better, according to the American people. Specifically, the latest NBC News/Wall Street Journal poll finds the President's economic approach favored almost 2-to-1 over the Congressional Democrat Leadership.
Survey taken Dec. 8, 2001-Dec. 10, 2001 (N=1,019 Adults)
o Stimulating the economy is one of the top two priorities for
six in ten Americans (59% stimulating the economy, 56%
dealing with terrorism, 27% preserving Social Security, 25%
Reforming Education).
o By close to a 2-to-1 margin, the public favors President
Bush's approach to getting the country out of a recession over
the approach of the Congressional Democrat Leadership (46%-
25%)
o By a 2-to-1 margin, Americans believe tax cuts to businesses
would do more to encourage investment and create jobs than
unemployment benefits and consumer spending incentives
(59%-29%).
BROAD OUTLINE OF BIPARTISAN CENTRIST AGREEMENT
o HELP FOR INDIVIDUALS & FAMILIES by providing
Accelerated Rate Reduction from (27% to 25%
effective January 1, 2002) & Supplemental Stimulus
Payments for those who did not qualify for a full
rebate check this summer.
o HELP FOR BUSINESSES TO CREATE JOBS by allowing
30% Bonus Depreciation for 36 Months
on qualifying property, by increasing
Small Business Expensing for 24 Months
from $24,000 to $35,000 & phase-out threshold from
$200,000 to $325,000, and through Alternative
Minimum Tax Reform so firms can
invest in equipment, employees and productivity.
o HELP FOR LAID OFF WORKERS & THEIR FAMILIES by
increasing Unemployment Assistance Grants to States &
Unemployment Insurance for an Additional 13
Weeks, as well as by expanding Health
Care Coverage for Jobless Americans through
immediate tax credits and health care certificates, regardless
of tax liability, to offset health care costs for all workers
who lose their job in 2001, 2002, and 2003 and deemed
Unemployment Insurance eligible.
DOCUMENT ATTRIBUTES
- AuthorsHastert, Rep. J. Dennis
- Institutional AuthorsHouse of Representatives
- Cross-Reference
- Subject Area/Tax Topics
- Index Termslegislation, taxeconomytax reliefhealth care and insurance
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2001-31296 (2 original pages)
- Tax Analysts Electronic Citation2001 TNT 245-30
