February 07, 2008

Stimulus Bill Heads To The President's Desk

UPDATED.

The House and Senate overwhelmingly passed a $152 billion stimulus package this afternoon, by votes of 380-34 and 81-16, respectively. The bill will provide tax rebates to more than 110 million Americans; the Senate version added senior citizens and disabled veterans to the list of those receiving rebates in the original House bill.

The legislation will likely receive a similar warm reception at the White House. In a statement today after the Senate vote, President Bush indicated his approval. "This plan is robust, broad-based, timely, and it will be effective," Bush said, adding that it was "an example of bipartisan cooperation at a time when the American people most expect it."

Senate Democrats dropped their proposals to add unemployment benefits and home heating assistance to the package after an earlier version was defeated yesterday. As soon as the revised legislation passed in the Senate, the House began an expedited debate this afternoon.

The Washington Post and MarketWatch have more details.

Posted at 7:50 PM
Posted to: Congress, House, Senate
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