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Congress' Late-Year Flurry: Spending, Tax Relief and Energy Legislation

WASHINGTON, Dec. 24 /PRNewswire-USNewswire/ -- This is the federal legislative update for the week of December 24, 2007.

In a late-year flurry, Congress passed many bills last week. Among others, Congress passed an all-in-one spending bill. It combined eleven spending bills and additional spending for the Iraq war into one.

H.R. 2764, now called the Consolidated Appropriations Act, 2008, is the bill. Its cost per U.S. family is a little over $9,400, about $720 of which is for the additional military spending.

H.R. 2764

The Consolidated Appropriations Act, 2008

Costs $9,439.54 per family

What People Think: 28% For, 72% Against

Congress also passed "AMT reform." The Alternative Minimum Tax originally affected only the very rich, but it was beginning to threaten middle class taxpayers.

H.R. 3996, the Tax Increase Prevention Act of 2007, saves an average of a little over $90 per U.S. family. (As with many tax bills, not every family will get this benefit - this figure is an average.)

H.R. 3996

The Tax Increase Prevention Act of 2007

Saves $91.60 per family

What People Think: 53% For, 47% Against

The Congress also passed an energy bill. The CLEAN Energy Act of 2007 is that bill, which has already been signed into law by the President. The bill costs the average family a little over $4.00.

P.L. 110-140

The CLEAN Energy Act of 2007

Costs $4.28 per family

What People Think: 51% For, 49% Against

Copyright©2007 PR Newswire.
All rights reserved

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