Related News
Obama will sign stimulus bill tomorrow
UNITED States President Barack Obama will sign the newly passed US$787 billion economic stimulus package tomorrow in Denver, Colorado.
The measure, aimed at combating the worst economic crisis since the Great Depression of the 1930s, marks Obama's first major victory in Congress in less than a month after taking office. Obama described the bill's passage as a "major milestone on our road to recovery."
Speaking in his weekly radio and Internet address, Obama said, "I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary to put people back to work doing the work America needs done."
At the same time, he cautioned, "The problems that led us into this crisis are deep and widespread, and our response must be equal to the task."
The bill passed on Friday with law makers largely voting along party lines. The Senate approved the measure 60-38 with three Republican moderates providing crucial support. Hours earlier, the House vote was 246-183, with all Republicans opposed to the package of tax cuts and federal spending that Obama has made the centerpiece of his plan for economic recovery.
Obama "now has a bill to sign that will create millions of good-paying jobs and help families and businesses stay afloat financially," said Senator Max Baucus, a Democrat who was a leading architect of the measure.
"It will shore up our schools and roads and bridges, and infuse cash into new sectors like green energy and technology that will sustain our economy for the long term," he added in a statement.
Despite Obama's early bipartisan goals, Republican opposition was nearly unanimous to vast package. Conservatives in both houses have been relentless critics, arguing the plan is filled with wasteful spending and that greater tax cuts would be more effective in creating jobs.
The measure, aimed at combating the worst economic crisis since the Great Depression of the 1930s, marks Obama's first major victory in Congress in less than a month after taking office. Obama described the bill's passage as a "major milestone on our road to recovery."
Speaking in his weekly radio and Internet address, Obama said, "I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary to put people back to work doing the work America needs done."
At the same time, he cautioned, "The problems that led us into this crisis are deep and widespread, and our response must be equal to the task."
The bill passed on Friday with law makers largely voting along party lines. The Senate approved the measure 60-38 with three Republican moderates providing crucial support. Hours earlier, the House vote was 246-183, with all Republicans opposed to the package of tax cuts and federal spending that Obama has made the centerpiece of his plan for economic recovery.
Obama "now has a bill to sign that will create millions of good-paying jobs and help families and businesses stay afloat financially," said Senator Max Baucus, a Democrat who was a leading architect of the measure.
"It will shore up our schools and roads and bridges, and infuse cash into new sectors like green energy and technology that will sustain our economy for the long term," he added in a statement.
Despite Obama's early bipartisan goals, Republican opposition was nearly unanimous to vast package. Conservatives in both houses have been relentless critics, arguing the plan is filled with wasteful spending and that greater tax cuts would be more effective in creating jobs.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.