Senate Stimulus 'Too Complex' for Treasury

Paulson prefers House's 'simple' $146 billion plan

By Matt Cantor, Newser Staff

Posted Jan 31, 2008 3:28 PM CST

(Newser) – The $157 billion stimulus bill passed by the Senate Finance Committee is "too complex," Treasury Secretary Henry Paulson said today. "Complexity is our enemy," Paulson said of the bill, which is "in danger of looking like a Christmas tree" once it goes to the full Senate. He said he prefers the House's version, which is "simple, broad-based and bipartisan," Reuters reports.

The Senate bill offers $500 tax rebates to individuals and $1,000 to couples, covering 20 million seniors the House version doesn’t. It extends unemployment benefits beyond the usual 26 weeks and proposes rebates for higher-income recipients, a move some economists say is unlikely to help: Wealthier people, they say, hang onto money poorer people would pump into the economy.

Treasury Secretary Henry Paulson, left, listens to President Bush tell reporters in the White House briefing room at the White House in Washington, Thursday, Jan. 24, 2008, that he and leaders of the... (Associated Press)

Treasury Secretary Henry Paulson speaks about the economic stimulus plan, Thursday, Jan. 24, 2008, during a news conference on Capitol Hill in Washington. (AP Photos/Susan Walsh) (Associated Press)

Treasury Secretary Henry Paulson speaks at the Treasury Department in Washington, Thursday, Jan. 31, 2008, about the Earned Income Tax Credit as part of EITC Awareness Day. (AP Photo/Ron Edmonds) (Associated Press)

Treasury Secretary Henry Paulson speaks to reporters in the White House briefing room in Washington, Thursday, Jan. 24, 2008, about working agreements with the Democratic-led Congress on an economic... (Associated Press)

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Senate Stimulus 'Too Complex' for Treasury

Paulson prefers House's 'simple' $146 billion plan

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First Tax Rebates Go Out Monday

Paulson happy to be ahead of schedule

Economy in 'Sharp Decline,' Paulson Admits

He won't say recession, but treasury secretary comes close

Congress Sends Stimulus Plan to Bush

Most Americans will get rebates between $600 and $1,200

Senate Pitches Rival Stimulus Package

Larger rebates, more benefits still to come

Feds Hit States With Interest on Unemployment Loans

Tax-free provision ended with first stimulus

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Paulson prefers House's 'simple' $146 billion plan

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OTHER STORIES ON OUR RADAR

Henry Paulson • House of Representatives • Senate Finance Committee • unemployment benefits • economic stimulus package • tax rebate

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

First Tax Rebates Go Out Monday

Paulson happy to be ahead of schedule

Economy in 'Sharp Decline,' Paulson Admits

He won't say recession, but treasury secretary comes close

Congress Sends Stimulus Plan to Bush

Most Americans will get rebates between $600 and $1,200

Senate Pitches Rival Stimulus Package

Larger rebates, more benefits still to come

Feds Hit States With Interest on Unemployment Loans

Tax-free provision ended with first stimulus

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Newser By Users

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