Bob’s take on

Rep. John Culberson, TX claims the “stimulus” bill must be urgently voted on today — because Speaker Nancy Pelosi is leaving at 6:00 PM for an 8 day trip to Europe! Culberson made the charge on Houston’s KSEV radio. Pelosi is hoping to lead a delegation to Europe; there’s a meeting with the Pope and an award from an Italian legislative group. Calls to Pelosi’s spokesman went unreturned. In the rushing, Democrats have now broken their promise to have the public see the $790 billion bill for 48 hours before any vote. Sen. Frank Lautenberg (D-N.J.) predicted that none of his Senate colleagues would ‘have the chance’ to read the entire final version of the 1,071-page bill before it comes up for a final vote.

The portion of the bill for a $15,000 tax credit for EVERY buyer of a home was taken out because it was a Republican that put it in the Bill. We were left with a increase to $8000 First time homebuyer only credit. So no stimulus to every homebuyer, which will not stimulate home buying.(Harldly any first time homebuyers qualify any longer)

The bill was put on the internet at 11PM last night—so many Congressmen have not even read the Bill.

The $790 billion economic stimulus plan is on track for vote today in the House, and the Senate will either vote later today or over the weekend. There will be $4 billion to repair and make more energy efficient public housing projects; $2 billion for the redevelop foreclosed and abandoned homes; $1.5 billion for homeless shelters and $2 billion to pay off loans on public housing accounts. $6.6 billion will be allocated to repeal a requirement that an $8,000 first-time home buyer tax credit be paid back over time for homes purchased from Jan. 1 to Nov. 30, unless the home is sold within three years. The bill increases the size of an existing temporary and refundable first-time home buyer credit to $8,000, up from $7,500. It also removes the requirement under current law that the credit be paid back if the buyer stays in the home for at least three years. And it would extend the credit’s expiration date to Dec. 1, 2009, from July 1. Those eligible for this credit must have purchased a home after Jan. 1, 2009, and before Dec. 1, 2009. The full credit is available to those making $75,000 or less ($150,000 for joint filers).

If you want to read the whole bill (3 times the size of the Bible)  Go here:     http://thomas.loc.gov/home/h1/Recovery_JS_DivB.pdf