Sen. Barbara Mikulski led the successful effort to allow many car buyers to claim an income tax deduction for sales taxes paid on new autos and interest payments on car loans. This bill will help declining auto industries and it will hopefully create new jobs for the unemployed. The provision was attached to the economic stimulus bill of Obama's economic recovery plan, but the passage of the bill is controversial. Obama will have to do his best and cross party lines to get republican approval of this bill. Republicans are skeptical about the effectiveness of the bill and do not believe that it will create many jobs, but further devastate the economy. There are also some democrats that want the $900 billion price tag of the bill reduced. The bill will be ready for Obama’s signature by mid-month. I think that this bill is a good idea to get new jobs, but I have to agree that it is too costly. Below is a link to the article.
http://news.yahoo.com/s/ap/20090204/ap_on_go_co/congress_stimulus
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