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Hope, Change, and the Egg of Power

582
3 wood1/27/2009 7:41:26 pm PST

Good evening.

Look for the market to open on the upside. The futures are all up well over 1% tonight.

Wall to wall pork called a stimulus package is making its way through the Senate.

Senate Finance Committee approves tax cuts in 14-9 vote

WASHINGTON (MarketWatch) — A Senate committee approved $342 billion in tax cuts on Tuesday as part of a larger plan to stimulate the economy. The Senate Finance Committee voted 14 to 9 to approve the legislation after amending the original proposal to make sure middle-class taxpayers aren’t hit by the alternative minimum tax this year. All Republicans on the committee opposed the package except for Sen. Olympia Snowe, R-Me, according to Dow Jones Newswires. The bill includes a $500 individual tax credit, tax breaks for businesses to hire workers and buy equipment, and tax incentives for energy efficiency