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/7889515.stm

The article has changed 9 times. There is an RSS feed of changes available.

Version 0 Version 1
US House approves stimulus plan US House approves stimulus plan
(10 minutes later)
The US House of Representatives has approved US President Barack Obama's economic stimulus plan, with the Senate expected to vote later. The US House of Representatives has approved US President Barack Obama's economic stimulus plan by 246 votes to 183, with the Senate set to vote later.
The plan was not backed by Republicans. Last week its previous version also did not get any Republican support.The plan was not backed by Republicans. Last week its previous version also did not get any Republican support.
Members of both houses of Congress reached a deal over the package, now worth $789bn (£549bn), on Wednesday.Members of both houses of Congress reached a deal over the package, now worth $789bn (£549bn), on Wednesday.
Earlier on Friday, Mr Obama said that Congressional approval of the stimulus plan was "critical".Earlier on Friday, Mr Obama said that Congressional approval of the stimulus plan was "critical".
The president said that the plan, which includes tax cuts and spending, would "save or create more than 3.5 million jobs".The president said that the plan, which includes tax cuts and spending, would "save or create more than 3.5 million jobs".
The revised packaged was backed by 246 Democrats, while seven Democrats and 176 Republicans voted against it, dashing Mr Obama's hopes for bipartisan support.
Republican representative Mike Pence said before the vote: "The only thing the Democrats' stimulus bill will do is stimulate more government and more debt."
'Driving purpose'
Meanwhile, Mr Obama said that in the longer term the government needed to rein in spending.
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
"We are going to have to once again live within our means," he said.
"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.
"That's the driving purpose of the recovery and reinvestment plan that I've put before Congress."
"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.