Senate Stimulus Plan Blocked

Lawmakers are expected to take up a cheaper package of business write-offs approved by the House.

By Angus Loten | 
 

Senate Republicans this week blocked a $157 billion economic stimulus package that contained additional subsidies and tax incentives for small businesses and low-income families, among other provisions.

The Democrat-led plan, which fell short of votes on Thursday, added heating bill subsidies, extra food stamps and alternative energy tax credits to a $145 billion stimulus package backed by the White House and approved by the House last week.

Instead, Senate lawmakers said they will take up the cheaper House plan early next week, and are expected to have a final bill before the president by Feb. 15.

In an effort to spur the slowing U.S. economy, the House package provides up to $600 in tax rebates to individuals and $1,200 to couples, along with capital write-offs for small-business owners.

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