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President Barack Obama to Sign Stimulus Plan into Action
President
Barack Obama will be signing the controversial stimulus plan into action on
Tuesday following the approval of Congress which voted on the bill last week.
Obama
will sign off on the $787 billion stimulus package at a ceremony in Denver with
hopes that the plan will jump start the struggling economy and provide relief
for those out of work. The federal money has been designated for the health
care sector, renewable energy projects, education, transportation projects and
conservations programs while also providing $240 billion in tax breaks for
individuals and businesses.
Despite
Congressional approval Obama’s stimulus plan received no Republican backing in the
House and only three Republicans supported the bill when the Senate voted on
the plan. Republicans have criticized the plan for its insufficient tax cuts
and its massive spending plans.
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