President Barack Obama speaks to the media alongside Google CEO Eric Schmidt (R)
and other company CEOs during an economic meeting in the Roosevelt Room
of the White House, January 28, 2009. (Jason Reed/Reuters)
Posted on 01/28/2009 10:16:43 AM PST by NormsRevenge
WASHINGTON (Reuters) – President Barack Obama's plan to fight the U.S. economic recession with $825 billion in emergency spending and tax cuts was expected to pass on Wednesday in a divided House of Representatives.
Working closely with Obama, who says he is open to changes to the plan, the House began a full day of debate on one of the most expensive single bills ever considered by Congress.
Most House Republicans were planning to oppose the legislation. They will offer a competing plan, which is expected to fail, that would scrap the Democrats' hundreds of billions of dollars in spending to jump-start the economy and instead call for a series of tax cuts.
As the debate unfolded in the House, Obama met at the White House with corporate leaders in an attempt to build support for quick passage of an economic stimulus bill that aims to create or save up to 4 million jobs.
"These are some of the leading CEOs in the country .... They are on the front lines in seeing enormous problems in our economy right now," Obama said, with the corporate chiefs sitting around a table.
Senate Minority Leader Mitch McConnell, a Kentucky Republican, attacked the House bill and called for changes. "There's widespread agreement that we need a stimulus package," he said on CNN. .. too much of the House bill was wasteful spending.
Once the House votes, action moves to the Senate, which is considering a more expensive bill. Its price tag is now about $887 billion because it will include a one-year fix to insulate middle-class taxpayers from the Alternative Minimum Tax, which originally was aimed at the wealthy is affecting a growing number of taxpayers because of inflation.
Democrats want to send Obama a bill he can sign into law by mid-February.
(Excerpt) Read more at news.yahoo.com ...
XOXOXOX
Nancy and Harry
President Barack Obama speaks to the media alongside Google CEO Eric Schmidt (R)
and other company CEOs during an economic meeting in the Roosevelt Room
of the White House, January 28, 2009. (Jason Reed/Reuters)
“Pelosi’s Porkulus Magnus!”
It is a Porkapalooza. It screws taxpayers so much that Congress should at least buy us a dinner and a movie.
just keep calling and mailing not just your own senator but southern red dog Dems, those up for re-election and RINO’s
So far I am in districts of southern Florida for Sen Nelson to Snowe up in ME
Just called the Feinstein and the Boxer.
Well, when they sign it, I guess they can say:
“th..th..th..th..that’s all folks!”
Going to the Senate next- Pass the lipstick!
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