By Cliff Montgomery – Jan. 4th, 2009
President-elect Barack Obama is speaking with Congressional Democrats about making a significantexpansion of unemployment benefits and federally-assisted health care insurance part of an ambitioustwo-year economic revival program, states The New York Times this Sunday.
Ideas include extending unemployment insurance benefits to part-time workers, allowing laid-off workers whodid not possess employer-sponsored insurance to file Medicaid claims and aiding business owners who for atime must continue to provide health insurance for retired and laid-off employees, according to the Times.
These plans will be part of an economic package primarily designed to increase much-needed investment inpublic works and infrastructure–an action which also will stimulate job growth.
Democratic aides told the Times that the House of Representatives probably will not consider voting on thestimulus package until next week, and that no final action should be expected before February.
Obama advisers told the paper that the $775 billion economic stimulus may face resistance from Capital Hill’smore conservative lawmakers.
“This has really forced people to think outside the box…because this is more money than anybody expected tobe spending,” a House Appropriations Committee aide confided to Times reporters.
Of course, many Americans would retort that our current recession continues to be much more savage thanalmost everyone had feared.
The President-elect also appears set to propose a $1,000 tax credit for eligible couples and a $500 credit forindividuals, according to the Times. Also, Americans making too little to owe any federal income tax will becompensated for paying Medicare and Social Security payroll taxes.
