Senate advances alternative stimulus plan

[Gunny]

Associated Press

WASHINGTON - A plan to send $500-$1,000 rebates to all but the richest taxpayers advanced in the Senate Wednesday after Republicans and Democrats teamed to add aid for disabled veterans, the elderly and the unemployed to a House-passed economic recovery bill.

The package would make individuals with annual incomes of up to $150,000 and couples with incomes up to $300,000 eligible for the rebates. Qualifying families would also get $300 for each child.

The Senate Finance Committee approved the measure on a bipartisan vote Wednesday, and senior aides said the Senate could begin voting on it as early as Thursday in hopes of completing it by week's end. Americans could begin getting rebates in May, with the bulk expected to arrive in June.

The income limits compare with caps of $75,000 for individuals and $150,000 for couples in an economic stimulus bill the House passed on Tuesday.

They were part of a bill written by Sen. Max Baucus, D-Mont., the Finance Committee chairman, and backed by Charles Grassley of Iowa, the panel's senior Republican, which would pump $193 billion into the economy over the next two years. The House measure would inject $161 billion.

The Senate plan also would expand rebate eligibility to 20 million older Americans on Social Security and to disabled veterans and tack on an unemployment extension for those whose benefits have run out.

"It helps seniors and it helps those hit hardest by the economic downturn," Baucus said of his plan.

more ... http://www.msnbc.msn.com/id/22922388/

Geee, I sure hope the didn't miss anyone.