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Democrats' Ideas to Jump-Start the Economy
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- $10 billion in extended unemployment insurance.
- Acceleration of $5 billion in energy efficiency and alternative energy investments: Tax credits to encourage purchases of hybrid and low-emissions vehicles; job training program on energy-efficient work.
Obama plan,
announced Jan. 13:
- Immediate $250 tax cut for workers and their families.
- Temporary $250 bonus to low- and middle-income seniors in their Social Security checks: If there is a three-month cumulative decline in employment, an additional temporary supplement of $250 per beneficiary would be provided.
- $10 billion fund to help avoid foreclosure: Increase emergency pre-foreclosure counseling and finance work through the Federal Housing Administration, Fannie Mae and Freddie Mac to help families facing foreclosure refinance their mortgages or sell their homes.
- $10 billion to state and local governments hardest hit by the housing crisis.
- Extension of unemployment insurance.
