Fight for Stimulus Plan

February 8, 2009 12:00:00 AM PST
President Obama's economic stimulus bill is facing difficult days ahead. It appears headed to pass the senate in the next two days, and the president says he wants it on his desk by next weekendThe fronts are hardening over President Barack Obama's plan to revive a tanking economy.

Lawrence Summers the White House National Economic Council said, "We need a major program enacted very quickly that will create three million to four million jobs."

Sen. John McCain (R) Arizona said, "We need a stimulus, but not this stimulus."

The $827-billion dollar bill now before the Senate is designed to catapult the economy out of the worst downward spiral since the great depression. It includes more than $300 billion in tax cuts, almost $461 billion in spending, including $39 billion for clean energy projects, $27 billion for highway construction, and $88 billion for education but republicans want the economic recovery effort to focus more on.

Michael Steele the Republican Party Chairman said, "...tax credits and ...and relief for small-business owners, incentives for people to get back into the credit markets."

Democrats insist that's not enough. "There are certain priorities ...education, health care, infrastructure investment, that the president is certainly not going to want to lose sight of."

The senate is expected to pass the bill on Tuesday. From there it goes to a conference committee that must iron out considerable differences between that bill and the house version. So, it's still a bumpy road ahead for a measure that President Obama wants on his desk by next weekend.

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