Monday, August 2, 2010

Later Today

Via Politico:

With a Senate vote slated for Monday evening, the White House shows signs of a late-breaking push behind a $26.1 billion aid package to help state and local governments cope with revenue shortfalls due to the continuing housing crisis and slow economic recovery...

Cash-strapped governors are promised $16.1 billion to pay Medicaid bills next year and ease their budget situation; another $10 billion in education assistance would go to school boards to help with teacher hiring...

Monday’s vote to cut off debate will require 60 votes--a high bar to meet and one that will require Republican help.

Toward this end, Reid offset the full cost through a combination of foreign tax credit provisions and $17.1 billion in savings chiefly from cuts to food stamps and prior appropriations. The Medicaid assistance, which extends a program begun under the Recovery Act, is designed now to phase out in the first six months of 2011—something recommended by Sen. Susan Collins (R-Maine.)
It doesn't increase the deficit. (Not that that's ever really been the issue.)

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