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Up for Debate This Week: The Financial Services Bailout, Tax Extenders, and a Credit Cardholders' Bill of Rights

The text of bailout legislation that might fly through Congress this week is circulating. It's discussed in the WashingtonWatch.com blog post: "Your Liability for the Bailout: $2,000 - Your Debt: $37,000"

See it here: http://tinyurl.com/3foepw

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.

    H.R. 6049
    The Renewable Energy and Job Creation Act of 2008
    Saves $71.91 per family
    What People Think: 76% For, 24% Against
    http://www.washingtonwatch.com/bills/show/110_HR_6049.html

The House is scheduled 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.

    H.R. 5244
    The Credit Cardholders' Bill of Rights Act of 2008
    Costs $1.19 per family
    What People Think: 67% For, 33% Against
    http://www.washingtonwatch.com/bills/show/110_HR_5244.html

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.

http://www.washingtonwatch.com/articles/show/32.html

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
    http://www.washingtonwatch.com/bills/show/110_HR_6947.html

    H.R. 3202
    The Foreign Service Overseas Pay Equity Act of 2007
    Costs $11.07 per family
    http://www.washingtonwatch.com/bills/show/110_HR_3202.html

    S. 2994
    The Great Lakes Legacy Act of 2008
    Costs $5.42 per family
    http://www.washingtonwatch.com/bills/show/110_SN_2994.html

    S. 1070
    The Elder Justice Act
    Costs $5.62 per family
    http://www.washingtonwatch.com/bills/show/110_SN_1070.html

    H.R. 6899
    The Comprehensive American Energy Security and Consumer Protection Act
    Saves $40.29 per family
    http://www.washingtonwatch.com/bills/show/110_HR_6899.html

S. 3270

The National Aeronautics and Space Administration Authorization Act of 2008

    Costs $196.78 per family
    http://www.washingtonwatch.com/bills/show/110_SN_3270.html

    Updated Items

    H.R. 3999
    The National Highway Bridge Reconstruction and Inspection Act of 2007
    Costs $8.95 per family
    http://www.washingtonwatch.com/bills/show/110_HR_3999.html

    Passed Items

P.L. 110-318

To amend the Internal Revenue Code of 1986 to restore the Highway Trust Fund balance

http://www.washingtonwatch.com/bills/show/110_PL_110-318.html

SOURCE WashingtonWatch.com