On the WashingtonWatch.com Blog

The text of bailout legislation that might pass through Congress this coming week is circulating. It’s discussed in the blog post: “Your Liability for the Bailout: $2,000 – Your Debt: $37,000“

Featured Items

This week, the Senate is scheduled to debate H.R. 6049, the Renewable Energy and Job Creation Act of 2008. The bill would amend tax law to renew a variety of expiring provisions, to create incentives for renewable energy investments, and to affect the treatment of income from deferred compensation and the allocation of business interest expenses.

Passage of H.R. 6049, the Renewable Energy and Job Creation Act of 2008 would save the average U.S. family a little over $70.

The House is scheculed to debate H.R. 5244, the Credit Cardholders’ Bill of Rights Act of 2008. The bill would restrict credit card billing practices, including interest rate changes and calculations of balances to which interest rates are applied.

Passage of H.R. 5244, the Credit Cardholders’ Bill of Rights Act of 2008 would cost the average U.S. family a little over a dollar.

The House will also debate a “continuing resolution” (not yet introduced) allowing the government to operate after October 1st, even though not a single annual spending bill has yet passed.

H.R. 6049
The Renewable Energy and Job Creation Act of 2008
Saves $71.91 per family

H.R. 5244
The Credit Cardholders’ Bill of Rights Act of 2008
Costs $1.19 per family

What People Think

The Renewable Energy and Job Creation Act of 2008 76% For, 24% Against Vote on this Bill

The Credit Cardholders’ Bill of Rights Act of 2008 67% For, 33% Against Vote on this Bill

Displayed below are new, updated, and passed items with their cost or savings per family.

New Items

H.R. 6947
The Department of Homeland Security Appropriations Act, 2009
Costs $423.25 per family

S. 150
The Protecting Pregnant Women and Children From Perchlorate Act of 2007
Costs $0.04 per family

S. 1577
The Patient Safety and Abuse Prevention Act of 2007
Costs $0.17 per family

H.R. 3202
The Foreign Service Overseas Pay Equity Act of 2007
Costs $11.07 per family

S. 2994
The Great Lakes Legacy Act of 2008
Costs $5.42 per family

S. 3109
The Hazardous Waste Electronic Manifest Establishment Act
Costs $0.43 per family

S. 1070
The Elder Justice Act
Costs $5.62 per family

S. 3166
A bill to amend the Immigration and Nationality Act to impose criminal penalties on individuals who assist aliens who have engaged in genocide, torture, or extrajudicial killings to enter the United States
Costs $0.00 per family

H.R. 6899
The Comprehensive American Energy Security and Consumer Protection Act
Saves $40.29 per family

H.R. 5788
The Halting Airplane Noise to Give Us Peace Act of 2008
Costs $0.00 per family

S. 3038
The Improved Adoption Incentives and Relative Guardianship Support Act of 2008
Saves $1.98 per family

S. 3270
The National Aeronautics and Space Administration Authorization Act of 2008
Costs $196.78 per family

H.R. 6625
The Veteran Voting Support Act
Costs $0.00 per family

Updated Items

H.R. 3999
The National Highway Bridge Reconstruction and Inspection Act of 2007
Costs $8.95 per family

H.R. 5235
The Ronald Reagan Centennial Commission Act
Costs $0.03 per family

Passed Items

P.L. 110-318
To amend the Internal Revenue Code of 1986 to restore the Highway Trust Fund balance