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Obama urges swift stimulus measures
Source: Agencies |
January 6, 2009, Tuesday
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BARACK Obama met top law makers yesterday to push for quick action on a broad economic stimulus package, but congressional leaders say the package won't be ready until mid-February at the earliest - almost a month later than the United States president-elect wanted.
Obama met House and Senate Democratic leaders and a bipartisan group of key law makers. He had hoped to have Congress enact the recovery plan in time for him to sign it when he takes office on January 20. But even his spokesman, Robert Gibbs, conceded Sunday night that was now "very, very unlikely."
"We don't anticipate that Congress will have passed, (through) both houses, an economic recovery agreement by the time the inauguration takes place," Gibbs said.
House Majority Leader Steny Hoyer said on Sunday he wants the House to approve the plan by the end of the month, sending it to the Senate in time for action before Congress leaves on its mid-February break.
Obama has insisted quick action is necessary if the nation is to rebound from the economic crisis. He has said repeatedly he wants a plan that will create 3 million new jobs.
"Economists from across the political spectrum agree that if we don't act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment and the American dream slipping further and further out of reach," he said in his Saturday radio and YouTube address.
Obama arrived on Sunday night in Washington - a place he largely has shunned since winning the election.
Obama aides have said the package Obama has dubbed the American Recovery and Reinvestment Plan could cost US$775 billion. The president-elect has refused to put a price tag to the plan.
Congressional aides briefed on the measure say it likely will include tax cuts of US$500 to US$1,000 for middle-class individuals and couples, as well as some US$200 billion to help revenue-starved states pay for health care programs for the poor and other operating costs.
A large part of the new spending would go for infrastructure projects, blending old-fashioned road and bridge repairs with new programs to advance energy efficiency and rebuild health care information technology systems.
Obama met House and Senate Democratic leaders and a bipartisan group of key law makers. He had hoped to have Congress enact the recovery plan in time for him to sign it when he takes office on January 20. But even his spokesman, Robert Gibbs, conceded Sunday night that was now "very, very unlikely."
"We don't anticipate that Congress will have passed, (through) both houses, an economic recovery agreement by the time the inauguration takes place," Gibbs said.
House Majority Leader Steny Hoyer said on Sunday he wants the House to approve the plan by the end of the month, sending it to the Senate in time for action before Congress leaves on its mid-February break.
Obama has insisted quick action is necessary if the nation is to rebound from the economic crisis. He has said repeatedly he wants a plan that will create 3 million new jobs.
"Economists from across the political spectrum agree that if we don't act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment and the American dream slipping further and further out of reach," he said in his Saturday radio and YouTube address.
Obama arrived on Sunday night in Washington - a place he largely has shunned since winning the election.
Obama aides have said the package Obama has dubbed the American Recovery and Reinvestment Plan could cost US$775 billion. The president-elect has refused to put a price tag to the plan.
Congressional aides briefed on the measure say it likely will include tax cuts of US$500 to US$1,000 for middle-class individuals and couples, as well as some US$200 billion to help revenue-starved states pay for health care programs for the poor and other operating costs.
A large part of the new spending would go for infrastructure projects, blending old-fashioned road and bridge repairs with new programs to advance energy efficiency and rebuild health care information technology systems.
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