This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7889122.stm
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Congress urged to pass Obama plan | |
(20 minutes later) | |
US President Barack Obama has said that Congressional approval of the economic stimulus package is "critical". | |
Both the Senate and House of Representatives are expected to vote on the plan later. | |
Members of both houses of Congress reached a deal over President Obama's plan on Wednesday. | Members of both houses of Congress reached a deal over President Obama's plan on Wednesday. |
The package, now worth $789bn (£549bn), includes tax cuts and spending. Mr Obama said it would "save or create more than 3.5 million jobs". | The package, now worth $789bn (£549bn), includes tax cuts and spending. Mr Obama said it would "save or create more than 3.5 million jobs". |
'Driving purpose' | 'Driving purpose' |
"We have a once-in-a-generation chance to act boldly, and turn adversity into opportunity, and to use this crisis as a chance to transform our economy for the twenty-first century," the president told members of the Business Council in Washington. | "We have a once-in-a-generation chance to act boldly, and turn adversity into opportunity, and to use this crisis as a chance to transform our economy for the twenty-first century," the president told members of the Business Council in Washington. |
We need to confront the crisis in the housing sector that has been one of the sources of our economic challenges US President Barack Obama | |
"That's the driving purpose of the recovery and reinvestment plan that I've put before Congress." | "That's the driving purpose of the recovery and reinvestment plan that I've put before Congress." |
Mr Obama said that in the longer term the government needed to rein in spending. | Mr Obama said that in the longer term the government needed to rein in spending. |
"We are going to have to once again live within our means," he said. | "We are going to have to once again live within our means," he said. |
"We need to confront the crisis in the housing sector that has been one of the sources of our economic challenges." | "We need to confront the crisis in the housing sector that has been one of the sources of our economic challenges." |
Negotiations | |
The House approved its $825bn version of the package last week without any Republican support. | |
The Senate voted to approve a different $838bn version on Tuesday, with few Republicans opting to back it. | |
The two versions had to be reconciled in a joint House-Senate committee before facing final votes in the two chambers. | |
President Obama increased the pressure on Congress this week, saying he wanted the bill on his desk ready to sign by this weekend. |
Previous version
1
Next version