The Homa Files

Obama’s signature tax cut to “95% of families” was supposed to be a $500 refundable credit (per worker) and $1,000 per household (with more than 1 worker).

Congress pared the plan to $400 per worker — a whopping buck-a-day — and stuck it in the stimulus package.

As recently as yesterday, Obama economist Austan Goolsbee was touting it as “a generous tax break for 95% of workers”.

Uh-oh.

As part of the budget blueprint that will be passed this week (on a party line vote, for sure), Congress will let Obama’s “Making Work Pay” tax credit expire at the end of next year — along with the evil Bush tax breaks for the wealthiest Americans.

Let’s see: a couple of weeks ago, a buck-a-day was a generous tax break that would stimulate the economy; now, according to some Dems, it’s a pittance that will barely be missed.  Which is it ?

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Reported on many sources, including:
http://www.foxnews.com/politics/first100days/2009/03/24/senate-democrats-let-obamas-tax-credit-expire-budget-blueprint/

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This entry was posted on April 29, 2009 at 7:59 am and is filed under Obama Administration, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.