House votes 246-183 to pass Obama $787bn (£547bn) plan to resuscitate the economy
The US House of Representatives has passed a $787bn (£547bn) plan to resuscitate the economy, handing President Barack Obama a big victory.
The measure passed 246-183, with no Republican votes. It will now go to the Senate, where a vote is expected later today.
The eight-inch-thick stimulus bill combines tax cuts for individuals and businesses with half a trillion dollars in government spending for infrastructure, health care and help for cash-starved state governments. Older Americans would get a $250 bonus social security check.
Seven Democrats voted against the bill.
Obama claims that the plan will save or create 3.5m jobs. But Republicans said it will not work because it has too little in tax cuts and spreads too much money around to everyday projects like computer upgrades for federal agencies.
Sourced from The Guardian
Please donate 50p, thank you from Recession2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment