FACTBOX: Obama proposes economic stimulus plan

Sun Jan 13, 2008 2:48pm EST
 
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(Reuters) - U.S. Democratic presidential candidate Barack Obama on Sunday proposed a $75 billion plan to stimulate the economy through worker tax credits, a one-time pension supplement and help for homeowners facing foreclosure.

He said the plan also includes another $45 billion in reserves that could be injected if the economy continues to worse.

Here are highlights of the plan:

*An immediate $250 tax cut for workers that would double if the economy worsens

*An immediate, temporary $250 bonus to seniors in their Social Security checks that would also double in an economic downturn.

*A $10 billion fund to help homeowners facing foreclosure

*A $10 billion fund to bolster states facing budget shortfalls amid lower tax revenues

*A $10 billion extension of unemployment insurance to help those who have been unable to find a job for more than half a year.

(Writing by Cynthia Osterman; editing by Chris Wilson)

 

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