In a swift victory for President Barack Obama, the Democratic-controlled House approved a historically huge $819 billion stimulus bill Wednesday night, filled with new spending and tax cuts at the core of the young administration's revival plan for the desperately ailing economy.
The final vote was 244-188, mostly along party lines as expected.
The legislation includes an estimated $544 billion in federal spending and $275 billion in tax cuts for individuals and businesses. It includes money for highway construction and mass transit.
The Senate is working on a costlier version of the bill.
Democratic congressional leaders practically declared victory Wednesday afternoon - ahead of the vote.
The massive recovery package has stirred consternation among Republicans who say their ideas are not being adequately considered. But Democrats have a comfortable majority in the House and stressed that fact in a talk with reporters.
Republicans had fought the bill as wasteful and insisted before the vote that their own plan, focusing on tax relief, would create twice as many new jobs -- 6.2 million -- as the plan Obama is pushing, while costing about half as much.
But the House defeated their plan Wednesday with a vote of 286-170.
House Minority Leader John Boehner said Republicans remain "disappointed" in the stimulus plan coming to a vote. He says it includes a "lot of wasteful spending that won't create jobs."
(Source: CBS / Fox News / NBC)
http://www.theyeshivaworld.com/article.php?p=29556
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