House of Representatives passes economic stimulus bill
The US House of Representatives today passed a $787bn plan to resuscitate the economy, handing President Barack Obama a big victory.
The measure was backed by 246-183, with no Republican “yes” votes. It will now go to the Senate, where a vote is expected later today.
The 8in-thick stimulus Bill combines tax cuts for individuals and businesses with half a trillion dollars in government spending for infrastructure, healthcare and help for cash-starved state governments. Older Americans would get a 250-dollar bonus Social Security cheque.
Seven Democrats voted against the Bill.
Mr Obama claims that the plan will save or create 3.5 million 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.
