Why there will be a Second Stimulus Package by 2010 or late 2009?

Why there is a possibility of the Congress / Senate passing a second stimulus plan ?
The worst of the current recession may be over. There is increasing evidence coming from latest financial data to suggest this. However slowing down of recession should not be confused with recovery. It is likely that the recovery will take much longer than what is hoped by wall street speculators in the past week. This is one reason why a second stimulus package is very likely.

Thus we have a three word simple answer to why there will be a second stimulus - Slow Economic Recovery.

The current stimulus plan passed by Obama administration provides plenty of stimulus including the following :

  1. Housing Stimulus for first time home buyers.
  2. Auto Stimulus for New Car Buyers.
  3. Cash for Clunkers - A stimulus to exchange your old fuel inefficient cars for a new one.
  4. Making Work Pay Tax Credit.
  5. SSI Stimulus Checks.
  6. Cobra Stimulus Package.
  7. Solar Energy Tax Credit Stimulus.
  8. Home Efficiency Tax Credits for Insulations of Doors Windows, etc.
  9. etc.
However, because of expectations of slow recovery it is now more and more likely that there will be a second stimulus plan announced by 2010 or even by late 2009, when a number of current stimuli get over. A comment from a Congressman published in the BBC article on Second Stimulus hint towards such a possibility. Also read an article by renowned economist Paul Krugman giving a message to the President on Second Stimulus.

Federal Tax Breaks, IRS Tax Credits, Tax Rebates in 2009 Economic Stimulus Package that maybe of interest to you

  • Will there be a Second Stimulus Plan in 2009 or 2010?
  • 2009 Obama Stimulus Package details explained.
  • New Car Purchase Auto Stimulus details explained- Excise and Sales Tax deduction for new purchase of new vehicles.
  • Cars- Cash for Clunkers - Car tax credit when you trade your old fuel inefficient car for a new one and get a rebate of $3500 or $4500.
  • $8000 First Time Home Buyer Tax Credit details- 2009 Housing Stimulus Bill in Economic Plan proposed by Obama.
  • $800 Making work pay tax credit stimulus- details explained ($400 working tax credit for individuals and $800 tax credit for married taxpayers).
  • $250 Social Security Stimulus Check in 2009 Economic Stimulus Package.
  • 2009 Cobra Stimulus Package 65% Reduction in Cobra Health Insurance Premium for qualifying individuals.
  • 2009 Stimulus Checks? Economic Stimulus Payment
  • $1000 Child Tax Credit, Dependent Tax Credit 2009 extension.

  • Jul 8, 2009

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