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Stimulus jockeying begins in earnest

February 9, 2009

Over the weekend, the chances for a stimulus package relatively soon improved greatly. A group of Senators met on Saturday to devise that legislative body's answer to the previously passed House bill.

But there's much work to be done. And it looks like the original deadline of having a measure signed by Obama by the Presidents Day holiday probably won't be met.

The reason: There's still lots of political sniping going on, not only between Democrats and Republicans, but also within the parties. Some of the down-and-dirty details are chronicled in U.S. News' Political Bulletin.

Now I'm not saying that politicians need to act or react based upon opinion polls, but a Gallup survey conducted late last week is interesting. The polling group found that most Americans lay the blame for the legislative gridlock so far on Republicans.

Stimulus gallup poll (2)Gallup graphs courtesy of Politico.com

As Politico's Glenn Thrush notes, "One poll isn't the story, but this seems to cut significantly against the Dems-in-trouble storyline" that some in the GOP have been pushing.

Update 11:10 a.m. CT: More pro Obama stimulus poll numbers out today. Details in Washington Post blog 44.

The Republicans also seem to have lost, at least for now, the backing of a traditional constituency.

Elsewhere on Politico, David Rogers reports that Sen. Arlen Specter (R-Pa.), in announcing his support of the Senate stimulus package, "pointedly read from a Chamber of Commerce endorsement. The National
Association of Manufacturers has also weighed in, telling Republicans
that votes on the bill  'including potential procedural motions' may be
considered for designation as key votes in NAM's scoring of their
legislative record."

Again, our lawmakers shouldn't govern based upon which way public opinion winds are blowing. But we do have, theoretically, a representative government, which means that the men and women on Capitol Hill serve, as the saying goes, at our pleasure.

It's time to quit using our down and almost out economy as a purely political tool. Every day, more Americans of every political persuasion are losing life savings and jobs. Members of Congress need to step up now or they, too, can join the unemployment ranks.

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • If Congress, on either side of the aisle, wanted to make a useful and popular change in the federal tax laws it would be to stop taxing unemployment compensation. Benefits are typically so temporary and small, taxing them seems petty and callous.

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