By a 61-to-37 vote, the Senate has approved an $819 billion economic stimulus plan. Just three Republicans supported the measure: Susan Collins and Olympia Snowe, both of Maine, and Pennsylvania’s Arlen Specter. Talks have begun to resolve key differences between the Senate and House versions of the bill. One difference deals with nuclear power plants. The Senate bill includes $50 billion in taxpayer money for loan guarantees for construction of new nuclear reactors and so-called “clean coal” plants. The House bill does not include any such loan guarantees. An analysis by the Center for American Progress projects that the Senate bill will create nine to 12 percent fewer jobs than the House bill, because the Senate bill provides less in federal spending and more in tax breaks. Democratic Senator Chuck Schumer of New York said it was essential for Congress to approve the stimulus plan.

Sen. Chuck Schumer: “We are hemorrhaging jobs. The middle class is losing dollars. The country could edge over into a recessionary spiral downward that actually turns into deflation, which could, God forbid, turn into a depression. And yet, while President Obama shows leadership, the other side is still adamantly sticking to policies that don’t work.”

Republican Senator Mitch McConnell of Kentucky joined the majority of Republicans in voting against the bill.

Sen. Mitch McConnell: “This is an enormous amount of money. The President was right to call for a stimulus, but this bill misses the mark. It’s full of waste. We have no assurance it will create jobs or revive the economy. The only thing we know for sure is that it increases our debt and locks in bigger and bigger interest payments every single year.”