Economic Indicators, Stock Market & Investment Reports

2.14.2009

$787 billion package to revive U.S. economy

Senators voted to approve a $787 billion economic stimulus package on Friday, Feb. 13 following an earlier vote in the House.

The bill is a mixture of tax cuts, government spending, aid to states, and relief to the unemployed that Obama says will create 3.5 million jobs.

The Senate vote was 60 to 38; three Republicans voted for it.

The House had approved an earlier $825 billion version of the package without any Republican support last week. On Tuesday, Feb. 10, the Senate voted to approve a different $838 billion version with few Republicans opting to back it. The two versions had to be reconciled in a joint House-Senate committee before facing final votes in the two chambers.

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