Our economic times have not been easy, however in the House of Democrats an $825 billion economic stimulus package rolled out to combat what they called "a crisis not seen since the Great Depression," but its immediate economic impact is unclear and the plan faces hurdles before becoming law. "Details of the two-year package, which calls for $550 billion in new spending and $275 billion in tax relief, will likely change as the bill works its way through Congress. But the document provides the first blueprint of how President-elect Barack Obama and congressional Democrats plan to fight the historic economic downturn, which has already wiped out 2.6 million jobs. Businesses would get "bonus" depreciation for investing in new plants and equipment. The proposal also allows companies that have losses this year to get refunds for taxes paid as far back as 2003; current tax rules allow losses to be carried back only two years. But companies receiving money from the financial-system bailout program are ineligible for the tax provision, a blow for some of the nation's big banks and troubled auto makers General Motors Corp. and Chrysler LLC. The stimulus plan was released hours before the Senate backed Mr. Obama on another key measure by approving the Treasury's call for the release of the second half of the $700 billion financial-system rescue package. That program is being replenished as Bank of America Corp. was near an agreement with U.S. officials that would provide it with $15 billion to $20 billion of fresh capital. The plan would be one of the largest single government expenditures in U.S. history, and would be equivalent to about 3% of gross domestic product o
ver two years. The proposal is $125 billion bigger than the controversial bailout for the financial-services industry. It outweighs in dollar terms all other nations' stimulus plans, though China's $600 billion stimulus is a larger share of its economy. Democrats said they emphasized government spending over tax relief because that was the best and fastest way to create jobs. Rep. David Obey (D., Wis.), chairman of the House Appropriations Committee, warned that the package may be insufficient -- and said another spending bill may be needed later this year." Obviously, our economic time has not dropped one bit however, the stimulus may be what we need for right now to reconstruct the economic downfall that the country is going through. Even though, the stimulus package has helped many that are currently working, others that are unemployed have not had the chance to take advantage of the extra sum in their paycheck.
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Our economic times have not been easy, however in the House of Democrats an $825 billion economic stimulus package rolled out to combat what they called "a crisis not seen since the Great Depression," but its immediate economic impact is unclear and the plan faces hurdles before becoming law. "Details of the two-year package, which calls for $550 billion in new spending and $275 billion in tax relief, will likely change as the bill works its way through Congress. But the document provides the first blueprint of how President-elect Barack Obama and congressional Democrats plan to fight the historic economic downturn, which has already wiped out 2.6 million jobs. Businesses would get "bonus" depreciation for investing in new plants and equipment. The proposal also allows companies that have losses this year to get refunds for taxes paid as far back as 2003; current tax rules allow losses to be carried back only two years. But companies receiving money from the financial-system bailout program are ineligible for the tax provision, a blow for some of the nation's big banks and troubled auto makers General Motors Corp. and Chrysler LLC. The stimulus plan was released hours before the Senate backed Mr. Obama on another key measure by approving the Treasury's call for the release of the second half of the $700 billion financial-system rescue package. That program is being replenished as Bank of America Corp. was near an agreement with U.S. officials that would provide it with $15 billion to $20 billion of fresh capital. The plan would be one of the largest single government expenditures in U.S. history, and would be equivalent to about 3% of gross domestic product o
ver two years. The proposal is $125 billion bigger than the controversial bailout for the financial-services industry. It outweighs in dollar terms all other nations' stimulus plans, though China's $600 billion stimulus is a larger share of its economy. Democrats said they emphasized government spending over tax relief because that was the best and fastest way to create jobs. Rep. David Obey (D., Wis.), chairman of the House Appropriations Committee, warned that the package may be insufficient -- and said another spending bill may be needed later this year." Obviously, our economic time has not dropped one bit however, the stimulus may be what we need for right now to reconstruct the economic downfall that the country is going through. Even though, the stimulus package has helped many that are currently working, others that are unemployed have not had the chance to take advantage of the extra sum in their paycheck. Job.travel is a fantastic website for the travel and hospitality industry premium employment site, that focuses solely on efficiently matching qualified job seekers with employers. Job.travel's services are complimentary for job seekers and cost effective for employers.
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This week with tax day and all of this doom and gloom, I still think there is room for success. It looks like job.travel is a great option for travel and hospitality professionals as well as career changers.
ReplyDeleteThanks!