Steven Mufson and Lori Montgomery report in The Washington Post:
Despite a growing sense of urgency, economists across the political spectrum continue to criticize the congressional stimulus plans. Most economists agree that the Senate alterations in the plan would undermine stimulus aims. Taxpayers who fall under the AMT are generally well-off enough to be able to save some of the tax cuts they receive, delaying any positive effect on the economy. By comparison, school aid to states would probably be spent immediately to prevent layoffs of teachers.
Let’s hope the reconciliation process restores some sanity to the Senate bill.