« Target makes large cuts to headquarters staff | Main | Mass Protests in Russia over economy »

House of Representatives passes stimulus bill

The House of Representatives passed Barack Obama's $819 billion stimulus bill Wednesday evening.

The bill was passed along party lines with an overall vote of 244 to 188, garnering no republican support despite the new president's serious efforts for a bipartisan backing according to CNN. Republicans claim the bill is too expensive and will not create new jobs, while Obama believes it will create a healthy environment for the American economy to prosper.

"I hope that we can continue to strengthen this plan before it gets to my desk.We must move swiftly and boldly to put Americans back to work, and that is exactly what this plan begins to do," said President Obama in a post-vote statement.

The economic stimulus plan is compromised of major tax cuts for people and businesses, as well as initiatives to put money into infrastructure repair, unemployment benefits, school renovations, and a green electricity grid.

The bill will likely be considered by the Senate next week, where the slimmer Democratic majority could create more resistance reported the BBC. The Democrats will need sixty votes for passage, which is expected, but the issue is about the extent of the support. They hope to have the bill on the president's desk by mid-february to be signed into law.

CNN: http://money.cnn.com/2009/01/28/news/economy/house_vote_wednesday/index.htm?cnn=yes
BBC: http://news.bbc.co.uk/2/hi/americas/7857276.stm