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| Version 3 | Version 4 |
|---|---|
| Obama denounces stimulus hold-up | Obama denounces stimulus hold-up |
| (20 minutes later) | |
| US President Barack Obama has said the Senate's delay in passing his $900bn (£616bn) economic stimulus package is "inexcusable and irresponsible". | US President Barack Obama has said the Senate's delay in passing his $900bn (£616bn) economic stimulus package is "inexcusable and irresponsible". |
| He described the economic situation as "an urgent and growing crisis", which could become "a catastrophe" if the Senate failed to act. | He described the economic situation as "an urgent and growing crisis", which could become "a catastrophe" if the Senate failed to act. |
| The bill includes measures to cut taxes and invest in job creation. | The bill includes measures to cut taxes and invest in job creation. |
| Moderate Democrat and Republican senators have argued that the plan should be trimmed by up to $90bn. | Moderate Democrat and Republican senators have argued that the plan should be trimmed by up to $90bn. |
| 'Echo chamber' | 'Echo chamber' |
| Mr Obama described as "devastating" the news that nearly 600,000 Americans lost their jobs in January. | Mr Obama described as "devastating" the news that nearly 600,000 Americans lost their jobs in January. |
| "The situation could not be more serious. These numbers demand action," he said. | "The situation could not be more serious. These numbers demand action," he said. |
| Mr Obama's remarks came as he unveiled a new board of economic advisers, chaired by Paul Volcker, former chairman of the Federal Reserve. | Mr Obama's remarks came as he unveiled a new board of economic advisers, chaired by Paul Volcker, former chairman of the Federal Reserve. |
| "I created this board to enlist voices that come from beyond the echo chamber of Washington DC," said Mr Obama, "and to ensure that no stone is unturned as we work to put people back to work and to get our economy moving." | "I created this board to enlist voices that come from beyond the echo chamber of Washington DC," said Mr Obama, "and to ensure that no stone is unturned as we work to put people back to work and to get our economy moving." |
| SENATE BILL: KEY POINTS Tax cuts for working families: $247bnJob-creating investments in infrastructure and science: $165bnJob-creating investments in health: $153bnJob-creating investments in education and training: $138bnJob-creating investments for an energy independent America: $82bnJob-creating investments tax cuts for small businesses: $21bnHelping Americans hit hard by the economic crisis: $72bn Source: Senate Appropriations Committee Q&A: Stimulus plan | SENATE BILL: KEY POINTS Tax cuts for working families: $247bnJob-creating investments in infrastructure and science: $165bnJob-creating investments in health: $153bnJob-creating investments in education and training: $138bnJob-creating investments for an energy independent America: $82bnJob-creating investments tax cuts for small businesses: $21bnHelping Americans hit hard by the economic crisis: $72bn Source: Senate Appropriations Committee Q&A: Stimulus plan |
| The Senate is likely to vote on the stimulus bill later on Friday, according to Senate Majority Leader Harry Reid. | The Senate is likely to vote on the stimulus bill later on Friday, according to Senate Majority Leader Harry Reid. |
| Moderate senators from both parties have been holding talks in an effort to find common ground on the package. | Moderate senators from both parties have been holding talks in an effort to find common ground on the package. |
| About one-third of the bill is currently composed of tax relief, with the rest devoted to spending on infrastructure projects. | About one-third of the bill is currently composed of tax relief, with the rest devoted to spending on infrastructure projects. |
| Republicans and some centrist Democrats are keen to reduce the number of spending commitments in the bill, and without their support the bill may not have enough votes to pass in the Senate. | Republicans and some centrist Democrats are keen to reduce the number of spending commitments in the bill, and without their support the bill may not have enough votes to pass in the Senate. |
| The House of Representatives approved its version of the package last week, worth $825bn, without any Republican support. | The House of Representatives approved its version of the package last week, worth $825bn, without any Republican support. |
| If the Senate gives its approval to the bill, the two different versions will then have to be reconciled in a joint House-Senate committee before facing a final vote. | If the Senate gives its approval to the bill, the two different versions will then have to be reconciled in a joint House-Senate committee before facing a final vote. |
| President Obama has said he wants the passage of the bill to be completed by 16 February. | President Obama has said he wants the passage of the bill to be completed by 16 February. |
| Are you in the US? Are you in favour of the stimulus bill? Is President Obama right to urge swift action on the measures? You can send us your comments using the form below: | |