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US Congress passes stimulus plan US Congress passes stimulus plan
(about 1 hour later)
The US Senate has voted in favour of Barack Obama's $787bn (£548bn) economic stimulus plan - clearing the way for it to be signed into law.The US Senate has voted in favour of Barack Obama's $787bn (£548bn) economic stimulus plan - clearing the way for it to be signed into law.
The vote came hours after the House of Representatives passed the measure without Republican backing.The vote came hours after the House of Representatives passed the measure without Republican backing.
Mr Obama has said the plan - a package of tax cuts and spending - will "save or create more than 3.5 million jobs".Mr Obama has said the plan - a package of tax cuts and spending - will "save or create more than 3.5 million jobs".
Republicans argue the tax cuts are insufficient, and that the economy will be saddled with debt for years to come.Republicans argue the tax cuts are insufficient, and that the economy will be saddled with debt for years to come.
Members of both houses of Congress reached a deal over the content of the stimulus package on Wednesday. The only thing the Democrats' stimulus bill will do is stimulate more government and more debt Mike Pence Republican representative Battle exposes partisan rifts Members of both houses of Congress reached a deal over the content of the stimulus package on Wednesday. This isn't Monopoly money. It's real. It adds up Mitch McConnell Republican Senate minority leader Battle exposes partisan rifts
The BBC's Kevin Connolly in Washington says the first set-piece drama of the Obama era ended in a comfortable but not entirely unqualified victory for the president, who had hoped for more bipartisan support.The BBC's Kevin Connolly in Washington says the first set-piece drama of the Obama era ended in a comfortable but not entirely unqualified victory for the president, who had hoped for more bipartisan support.
All 176 Republicans and seven Democrats voted against the revised package in the House. It was backed by 246 House Democrats.All 176 Republicans and seven Democrats voted against the revised package in the House. It was backed by 246 House Democrats.
In the Senate just three Republicans voted for the package.In the Senate just three Republicans voted for the package.
The rebel votes were however enough under Congress rules to stop the Republican Party using blocking tactics to obstruct the stimulus plan, and it passed 60-38. The rebel votes were however enough under Congress rules to stop the Republican Party using blocking tactics to delay the stimulus plan, and it passed 60-38.
'Helping families' 'Shot in the arm'
The approved version of the plan is split into 36% for tax cuts and 64% percent in spending and money for social programmes.The approved version of the plan is split into 36% for tax cuts and 64% percent in spending and money for social programmes.
Republicans had insisted on larger tax cuts instead of big spending programmes. 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 Running to more than 1,000 pages, it includes new road building, cash to pay police in hard-up cities, and tax breaks for consumers buying houses and cars.
Republican representative Mike Pence said before the vote: "The only thing the Democrats' stimulus bill will do is stimulate more government and more debt." The colossal package is all to be funded with borrowed money.
But House Majority Leader Steny Hoyer said: "Millions and millions of people... who have lost their jobs and can't put food on the tables of their families will be helped by this bill." Republicans had insisted on larger tax cuts instead of big spending programmes. We have a once-in-a-generation chance to act boldly US President Barack Obama
Meanwhile, Mr Obama said that in the longer term the government needed to rein in spending. Republican Senate minority leader Mitch McConnell said: "This isn't Monopoly money. It's real. It adds up, and it has to be paid back, by our children and by their children."
"We are going to have to once again live within our means," he said. The Democratic leader of the Senate, Harry Reid, praised the three Republicans who had voted for the bill and said it was the most important piece of legislation he had worked on.
"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. "The country is in trouble and we're so fortunate we were able to get it passed," he said.
"That's the driving purpose of the recovery and reinvestment plan that I've put before Congress." "It's going to give this country a shot in the arm."
"We need to confront the crisis in the housing sector that has been one of the sources of our economic challenges." Earlier, Mr Obama had said that in the longer term the government needed to rein in spending, and that "we are going to have to once again live within our means".
The president told members of the Business Council in Washington that the package was "only the beginning of what I think all of you understand is going to be a long and difficult process of turning our economy around."
Presidential pressurePresidential pressure
The House approved its $825bn version of the package last week without any Republican support. "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," Mr Obama said.
Among the measures in the approved package is a "Buy American" clause that had caused alarm among US trading partners.
The EU and Canada said that provisions favouring American-produced materials for government projects risked provoking retaliatory protectionist measures.
In the face of this reaction, the clause was softened to a version requiring the government not to violate trade agreements.
Last week, the House had approved an earlier $825bn version of the package without any Republican support.
The Senate voted to approve a different $838bn version on Tuesday, with few Republicans opting to back it.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.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 the weekend.President Obama increased the pressure on Congress this week, saying he wanted the bill on his desk ready to sign by the weekend.