The broad outlines of how the Obama administration’s near-trillion dollar stimulus package may change in the Senate began to become visible on Sunday, with Democratic senators indicating that they would be open to considering Republican amendments to the bill, particularly in the areas of housing and infrastructure spending.
Senator Charles E. Schumer, Democrat of New York, said that Senate Democrats were interested in considering Republican proposals to do more to help the sputtering housing market, including instituting a $15,000 tax credit for all home buyers.
“One of the Republican proposals is to raise the $7,500 tax credit we give to new home buyers, raise it to up $15,000 and do it for all home buyers,” Senator Schumer said on CBS’s “Face the Nation.” “That’s something that we look favorably upon.”
Mr. Schumer, who is a member of the Finance Committee, also said he was also interested in passing legislation aimed at getting mortgage rates down to 4.5 percent, although he said he thought that might go in the next part of the bailout measure approved by Congress last year, not the stimulus package.
He added, “I think we will get real agreement on the housing part.”
Senators of both parties also said on Sunday that they expected a significant amount of additional money — about $20 billion to $30 billion — to go toward infrastructure spending on such things as roads and bridges. Senator Schumer also said he supported an additional $5 billion for mass transit spending.
But there was significant disagreement along party lines over whether the additional spending should add to the bottom line dollar figure of the bill. With interest, the $819-billion version of the bill that passed the House last week could actually cost up to $1.2 trillion, the director of the Congressional Budget Office, Douglas Elmendorf, told the House Budget Committee on Tuesday.
Senator John Kerry, Democrat of Massachusetts, speaking on NBC’s “Meet the Press,” said that he would be willing to “raise the total price tag” of the bill to include get the additional spending sought by the Republicans.
But Senator Mitch McConnell of Kentucky, the Republican leader in the Senate, said, “There’s going to have to be a lot taken out of this bill for Republicans to support it.”
By SHARON OTTERMAN
Source: The New York Times – U.S.A.


















































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