Senate & White House Battle Today Over Stimulus Plans

President's miscalculations include scale, momentum

(NEWSER) - Scott Brown’s Senate victory in Massachusetts is the final nail in the coffin of the Obama administration’s first-year political strategy, John F. Harris and Carol E. Lee write for Politico . The miscalculations cover “three major counts":

• Believing 2008 was a game-changer: The Obama team thought the "election represented something seismic." But "the assumption that Obama would be swimming mostly with the current rather than often against it on issues such as health care, financial regulation and global warming was naive in retrospect."

Withholding errors mean 15.4M will get smaller refund or owe money

(NEWSER) - An IRS tax credit designed to lighten the load on recession-addled taxpayers won't work out as well as hoped for about 15.4 million Americans. Because certain minutiae of the new Making Work Pay credit weren’t factored in to withholding tables, more than 10% of taxpayers who file individual returns have been underpaying and will see a smaller refund than expected or actually owe money. More»

Also adds 20 weeks of jobless benefits

(NEWSER) - The House voted to extend and expand an $8,000 tax credit for first-time home buyers as part of a stimulus expansion expected to inject $45 billion into the economy. The legislation, which passed the Senate yesterday, also extends unemployment benefits for 20 weeks and creates tax breaks for businesses suffering losses. President Obama will sign it tomorrow. The House voted 403-12, with Republicans accounting for all the “no” votes. More»

Directly or indirectly, $150B spent has had great effect, report says

(NEWSER) - The economic stimulus package has already created or saved at least 650,000 jobs, the White House said today, even though just $150 billion of the $787 billion has been spent. And the number of jobs is closer to 1 million if it includes positions added indirectly, according to the administration. The tricky numbers come from tens of thousands of reports by funding recipients, including state and local governments and private firms. More»

Nancy Pelosi still wants it in House-Senate compromise

(NEWSER) - As health care reform chugs through the Senate Finance Committee, Mike Madden checks in on the prospects for a public option and finds it's not quite dead yet. A big test comes today when the committee votes on amendments from supporters of the public option, such as Jay Rockefeller. "Don't count it out," says Chuck Schumer, sounding not exactly like his usual "bulldog" self, notes Madden, writing for Salon. More»