Senate committee passes economic stimulus package

The Senate Finance Committee on Wednesday passed an economic stimulus package that would inject close to $200 billion into the economy over two years in an attempt to stave off recession.

It could go to the Senate floor Wednesday night or Thursday.

The Senate version originally included no income ceiling.

But committee leaders changed their minds Wednesday, capping eligibility at $150,000 for individuals and $300,000 for couples after Democrats objected to the idea of giving a rebate to wealthy Americans.

During Wednesday's committee meeting, Chairman Max Baucus of Montana announced that the proposal is similar to a bill passed Tuesday by the House.

But some key differences include the eligibility caps, which are double those in the House version.

http://edition.cnn.com/2008/POLITICS/01/30/economy.stimulus/index.html