Businesses fare better in Senate economic package

[firedupdem]

WASHINGTON (AP) -- Businesses are faring much better in the Senate than they did in the House as Congress works on a massive package of spending and tax cuts designed to stimulate the economy.

The Senate package, which could be voted on this week, has billions of dollars in business tax credits not included in the House plan. Both packages would enable money-losing companies to get refunds of taxes paid on profits in previous years. But the Senate plan offers more ways to do it, boosting payments to companies by about $15.5 billion.

The total cost of the Senate package - taxes and spending - stood at about $890 billion, compared with $819 billion for the plan passed by the House last week. The Senate was scheduled to begin debating the package on Monday.

Both tax packages are aimed at getting individuals and companies to spend money to help revive the economy at a time when most are inclined to cut back and save. The business tax credits are designed to help struggling companies stay afloat and reward companies that invest and expand.

Some supporters are skeptical that the tax measures will spur much business investment. For many companies, the goal is simply to stay in business, said Sen. Kent Conrad, D-N.D., chairman of the Senate Budget Committee.

"If you're a business whose orders are falling off dramatically, are you going to add equipment?" Conrad asked.

http://hosted.ap.org/dynamic/stories/S/STIMULUS_TAXES?SITE=CONGRA&SECTION=HOME&TEMPLATE=DEFAULT

[firedupdem]

1. Conrad is on target with this.......If the economy isn't moving and

there are no orders (the problem my husband's company has now) any additional monies they receive will not help us it will only help them.

[high density]

4. Our office is in the same situation

We need to sell stuff but no businesses want to buy anything. It's been this way for a year and a half now. If this keeps up for another year, I wouldn't be surprised to see our parent company simply close us down. Our staff is already down to the bare minimum, any more cuts and we stop being able to support our existing customer base.

[firedupdem]

5. It's truly scary.

We moved here from Michigan after losing our jobs there. I haven't been able to find a job yet and after only 8 months my husbands new employer is slashing people and cutting salaries. I'm trying to think positive but damn it's getting hard to stay focused!

[Thrill]

2. What a surprise. This is the result of the many business loving Democrats in the Senate

[Zodiak]

3. Conrad being one of them

His DLC-driven votes have been a complete travesty and have been partially responsible for the mess we find ourselves in.