The
Senate and House of Representatives have finalized an agreement to push forward
President Barack Obama’s economic stimulus plan, putting $789 billion on the table
to lift the U.S. from its economic clump.
The
stimulus plan includes tax breaks as well as spending plans designed to create
jobs and aid those in need. While the Senate and House reached a compromise on the
bill it will still need to be approved by a vote, something most expect to
happen by Thursday. Obama would then sign the bill into law.
Both
the Senate and the House received the stimulus plan and made changes before
coming together on Wednesday to settle their differences and reach an
agreement. The new bill will create more jobs than the Senate approved bill and
provide more tax cuts than the House approved version.
Democrats
control both the Senate and the House and the bill managed to pass with little
Republican support. Republicans have been upset with the price tag that has
been thrown on the bill and have criticized the spending associated with the stimulus
plan.
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