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 :
- Housing Stimulus for first time home buyers.
- Auto Stimulus for New Car Buyers.
- Cash for Clunkers - A stimulus to exchange your old fuel inefficient cars for a new one.
- Making Work Pay Tax Credit.
- SSI Stimulus Checks.
- Cobra Stimulus Package.
- Solar Energy Tax Credit Stimulus.
- Home Efficiency Tax Credits for Insulations of Doors Windows, etc.
Federal Tax Breaks, IRS Tax Credits, Tax Rebates in 2009 Economic Stimulus Package that maybe of interest to you