text_combined: hill stimulus bill update 10 16 01 us treasury sec neill front week administration voice trying shape parameters hill debates trying keep lid proposals could long term costs budgets several years continue delicate balance administration looking get final bill end next week get money pockets time end year fed chair greenspan could also critically affect debate tomorrow testimony joint economic committee core belief whatever precise stimulus number arrived primarily temporary character preference current conditions security fiscal policy response instruments face diminishing returns efficacy rate reductions face uncertainty competitive analysis continue follow issue closely welcomes feedback specific questions issues please contact brendan fitzsimmons x 5 4763 questions enron global markets competitive analysis hill stimulus bill update 10 16 01 partisanship question senate battle final stimulus bill likely 80 110 b range hill dems repubs aims could push northward summary senate numbers look set exceed bush figures 60 75 b may approach house ways means 100 b final conferenced bill could hit 140 b top special 55 b approved right attacks airlines immediate impact areas republican plan far tax cuts spending democratic plan lot spending supporting people lost jobs none infrastructure final conferenced bill may run high 140 b neglected middle class given another rebate check another 38 b one major question hanging size composition speed senate package whether senate maj leader daschle decides move quickly toward bipartisan senate package tries isolate house republicans business tax cutting agenda daschle present dilemma president bush senior advisers tell president need assurance white house compromises make supported white house bush give assurance unable control right probably opt partisan position report centrifugal pull big number like 100 b proved main attractor early action stimulus front house ways means committee votes approved tax cut package mainly businesses added exactly number senate produce something little smaller handwriting wall two houses congress move toward conference committee package could easily top total one key member senate negotiations told sources late sunday working package designed stay principle everything temporary roll one year avoid blowing budget surpluses later right still aiming stay bush 60 b 75 b bracket everyone knows final number go although senate process controlled democrats senate finance committee chairman baucus dem highly contested election campaign next year deeply republican state earlier bush tax cut plan expect reach work senior republicans grassley despite wishes partisan members leadership likely elements democratic senate package rebates pay payroll taxes get first 300 600 rebate also house republican package temporary investment incentive businesses could easily 30 keep one year form extending loss carryback businesses allowing one year use amt credits 2002 loss carryback quite likely relatively small 10 year costs democrats amt complicated see form expanded unemployment insurance incentive extending number weeks elements expand eligible 50 rebate unemployed workers pay extended health care benefits cobra program partisanship question series senior democrats argue early compromise could major mistake since house republicans simply pocket concessions make toward republican style tax cutting press business tax cutting agenda conference committee words daschle position senate democrats bipartisan high road bill passed position democrats partisan wrangling seems likely way conference committee later month looking forward final conferenced bill sorting various proposals sources suggest possible solution agenda rebate bottom 34 million payroll taxpayers 30 expensing 12 months maybe compromise 18 months five year net loss carry back unemployment insurance extension expansion maybe help directly states rep governors may like cobra assistance repeal corporate amt several year suspension concessions house republicans dems go along say big mistake odds ends appropriators energy assistance food assistance etc comes around 100 billion although numbers gravitated steadily northward one major decision made could add another 40 billion total bringing final stimulus package something like 120 140 b rebate checks house senate agree rebate workers get earlier rebate earn enough pay income taxes bottom 34 million would highly unlike congress pass stimulus legislation helped bottom 20 top 2 major business tax cuts left 75 middle equation entirely one solution could send another rebate everyone another 38 b