Reid priorities include homeowner help

WASHINGTON — Sen. Harry Reid on Wednesday laid out his priorities for the economic stimulus bill that Congress will debate early next year, saying it must include help for homeowners, selected tax cuts and aid to financially stressed states like Nevada.

Reid also called for substantial spending on renewable energy and transportation projects as a strategy to create jobs.

Several of the recommendations echo ones that have been endorsed already by President-elect Barack Obama.

Democrats are preparing a bill that could cost around $600 billion, but Obama advisers said Wednesday the president-elect is considering a package that could reach $1 trillion.

Reid said he could not say how much spending would end up in the state from any stimulus bill.

“It is hard to put a 5 percent-10 percent number on it,” the Senate majority leader said. “We have been fortunate in the past to have Nevada get its fair share, and I can take care of that.”

Reid outlined his thoughts on the stimulus in a letter he released to Peter Orszag, who is Obama’s nominee to head the White House Office of Management and Budget.

Reid said job creation through spending on transportation and renewable energy projects should be a top priority.

He also said  a bill must contain assistance to homeowners facing foreclosure,  and direct funding to states that are facing deep cuts in health care, education, policing and aid to the poor.

Reid also called for “tax benefits targeted for working families,” such as extending the child tax credit and relief from the “marriage penalty.”