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Obama takes on Congress to find fixes
Source: Agencies |
January 4, 2009, Sunday
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BOTH President-elect Barack Obama and Vice President-elect Joe Biden will huddle with Democratic and Republican congressional leaders tomorrow to try to advance a huge economic stimulus bill that Obama hopes can be enacted quickly, despite Republican reservations.
Obama's transition team said it was mulling "buy American" provisions for the stimulus package that could favor US companies over foreign competitors.
Leadership aides in Congress said Obama's meeting was set to start around 3pm on Monday.
But in the run-up to the meeting, Republicans on Capitol Hill were warning their Democratic counterparts that legislation to improve the worsening US economy should not spend too much money on government-funded projects and should not be rushed through Congress without adequate review.
Democrats have been hoping to deliver the plan - which could cost US$675 billion to US$775 billion or more - to Obama on January 20, the day he becomes president, or shortly thereafter.
One element of the plan could be "buy American" language benefiting US industry. "We are reviewing the buy American proposal and we are committed to a plan that will save or create 3 million jobs including jobs in manufacturing," Obama transition spokeswoman Jen Psaki said.
The New York Times on Friday quoted Daniel DiMicco, chairman and chief executive of steel maker Nucor Corp, as saying the steel industry was asking Obama to "deal with the worst economic slowdown in our lifetime through a recovery program that has in every provision a 'buy America' clause."
The newly elected Congress is to be sworn in on Tuesday - two weeks before Obama. Hearings could push a final package well into February.
Obama's transition team said it was mulling "buy American" provisions for the stimulus package that could favor US companies over foreign competitors.
Leadership aides in Congress said Obama's meeting was set to start around 3pm on Monday.
But in the run-up to the meeting, Republicans on Capitol Hill were warning their Democratic counterparts that legislation to improve the worsening US economy should not spend too much money on government-funded projects and should not be rushed through Congress without adequate review.
Democrats have been hoping to deliver the plan - which could cost US$675 billion to US$775 billion or more - to Obama on January 20, the day he becomes president, or shortly thereafter.
One element of the plan could be "buy American" language benefiting US industry. "We are reviewing the buy American proposal and we are committed to a plan that will save or create 3 million jobs including jobs in manufacturing," Obama transition spokeswoman Jen Psaki said.
The New York Times on Friday quoted Daniel DiMicco, chairman and chief executive of steel maker Nucor Corp, as saying the steel industry was asking Obama to "deal with the worst economic slowdown in our lifetime through a recovery program that has in every provision a 'buy America' clause."
The newly elected Congress is to be sworn in on Tuesday - two weeks before Obama. Hearings could push a final package well into February.
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