Low Income and Elderly Could Benefit from Obama Plan

By: AP | News Channel 7
Published: January 13, 2009

WASHINGTON (AP) - Democratic lawmakers say they hope to have an
economic stimulus ready for the next president's signature by
mid-February.
But they say numerous provisions remain unsettled.
A plan put forth by President-elect Barack Obama calls for an
increase in Supplemental Security Income for 7 million poor people
who are elderly, blind or disabled. Aides say the idea of an extra
SSI payment is gaining traction in negotiations.
The plan is also said to provide at least $70 billion over the
next two years to help states meet the demand for Medicaid, and
another $25 billion more to help individuals who cannot afford to
pay for private, post-employment health benefits.
An estimated $35 billion is tentatively ticketed for additional
unemployment benefits.
The tax provisions remain undecided. But some Democratic
officials say Obama's call for a tax break for companies that
create new jobs is all but dead.

Flurry of activity on bailout funds

WASHINGTON (AP) - President-elect Barack Obama is just a week
away from taking office. And the economy remains the focus.
Tuesday, Obama's meeting with Senate Democrats and top aides are
getting ready for a meeting with Senate Republicans. They're
huddling ahead of a possible vote Thursday on whether to release
the second half of the $700 billion financial bailout fund.
The House Financial Services Committee has a hearing on the
program in advance of legislation offered by committee Chairman
Barney Frank of Massachusetts.
It would place tough new restrictions on recipients of the money
and require spending to reduce mortgage foreclosures.
Monday, President Bush acted on Obama's behalf and asked
Congress for access to the remaining $350 billion of the money it
authorized to rescue the nation's financial sector.