You probably already noticed from the note at the top of the site, but just to archive it: here are some links related to the economic stimulus bill that was enacted this month (and then failed to do any good, apparently).
We posted a special feature comparing the texts of the bill drafts line by line. You can see the evolution of the plan from September 25 to October 1.
HR 1424, the final economic stimulus bill, can be found on GovTrack. In an effort to speed the parliamentary process up, the Senate co-oped a previous unenacted bill, variously titled the Paul Wellstone Mental Health and Addiction Equity Act of 2007 and the Genetic Information Nondiscrimination Act of 2008. They replaced the entire text of the bill with the stimulus bill using an amendment. Two votes took place in the Senate, first to pass the amendment and then to pass the amended bill: the votes, both on Oct. 1, came out the same. Because the House had previously passed the bill in its prior life as a mental health bill, the House had, well, already passed the bill. But since the Senate had made changes following the House’s approval, the House was required to agree to the Senate amendment, which it did on Oct. 3. The same day the President signed the bill and it became law.
Prior to the Senate’s action, the House attempted a bill of its own. Actually, it attempted to co-opt a bill as well in order to speed-up the parliamentary process. It wanted to co-opt H.R. 3997, Defenders of Freedom Tax Relief Act of 2007. The House voted on an amendment to replace the text of that bill with their stimulus bill, but the vote failed, leaving the bill unchanged.
10 comments so far...
I recieved a letter from First Ohio Banc and Lending, Inc stating that my current mortgage loan may be eligible for a special modification program created in conjuction with the Federal Economic Stimulus Act of 2008. Is this legitamate? Is this a refinace offer?
This isn’t really the place for that type of question. But my advice is to assume everything is a scam.
What do you mean this is no place for that question, if they srnt these letters they sould tell us, i got the same one it is form# 008.S are these real or a scam?
I mean, I don’t know the answer, and probably neither do visitors to GovTrack.
I also recieved this same form in the mail. They want $2,500 up front. Sure makes me wonder why they would ask for so much from a person that was in financial hardship to begin with. I’m
doing some research and will let you know ASAP. Hang tough everyone and good luck saving your homes. Something has to
change and SOON!!
In your shoes
Leslie
I RECEIVED THIS SAME LETTER “FORM 008″, WHAT IS THIS?? IS SOMEONE TRYING TO SCAM MORE HOMEOWNERS IN TROUBLE??
I also recieved that 008-s form I called that number they said I qualifid for payment reduction but they want $2,500 so that made me wonder that is a scam for money.Now i’m doing resreach on it.
Isrrael Medina
The more appropriate response to Cindy, Rich and Leslie would have been that:
1) A stimulus package from the government would generally give you a check -not ask you for money.
2) Any scheme that asks you for money to refinance your mortgage is a scam, and I would stay away from it.
3) Go to your mortgage company to refinance a mortgage and get some competitive rates from other mortgage companies.
4)Do your own research.
Teriss
Josh - thanks for trying to keep these posts on point. It is interesting that the House and Senate use previously passed bills as the legislative foundation run thru new emergency bills - apparently simply ammending the entire bill’s text. Is this work-around used to avoid otherwise arduous legislative processes that make it impossible to enact ermergency legislation at necessary speed? Thanks if you can comment.
I don’t really know what the alternatives are. Co-opting a bill as they did avoids the committee system (since it had already gone through committee), for instance. Are there other ways to avoid committee referral? How fast can a committee process a bill, or does that give up too much power to the committee chair? I don’t know the answers to those questions.
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