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House Approves Economic Stimulus Plan

HeadlineJan 30, 2008

On Capitol Hill, the House has approved a nearly $150 billion economic stimulus deal agreed to by President Bush and Democratic leaders last week. The measure would give out one-time tax rebates of $600 for individuals, double that for couples. The vote was 385-to-35. At the White House, President Bush urged the Senate to follow the House’s lead.

President Bush: “The temptation is going to be for the Senate to load it up. My concerns is that we need to get this bill out of the Senate and on my desk, so the checks can get in the hands of our consumers, and our businesses can, you know, be assured of the incentives necessary to make investments. Anyway, I do want to thank the Speaker and Leader Boehner for working quickly and working in a bipartisan fashion. This is a very good start.”

As part of the compromise, House Democrats agreed to Bush’s refusal to expand funding for food stamps and unemployment benefits. Senate Democrats are advancing a competing proposal that includes a thirteen-week benefit extension. They may also add other amendments on food stamps and heating assistance. House Speaker Nancy Pelosi backed Bush’s call for Senate approval, calling the measure a bipartisan victory.

House Speaker Nancy Pelosi: “Many Americans in the middle class are living paycheck to paycheck. They’re feeling — they have a struggle with the cost of — rising cost of groceries, of gasoline, of healthcare. The list goes on. Today, Congress acted in a way that is directly relevant to their lives, and we hope that the Senate will follow suit.”

The Senate vote is expected later this week.

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