Economic Stimulus Package

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WASHINGTON — Reluctant to call it quits, key lawmakers bargained into overtime Thursday on the $790 billion economic stimulus legislation before reaching final agreement more than 24 hours after first announcing a deal. Lingering controversy over school-modernization money and a scaled-back tax break for businesses forced a delay in final votes on the legislation. But by nightfall, with Democratic leaders eager for final passage by the weekend, all issues were reported settled.

House leaders announced a vote for Friday, with the Senate to follow later in the day or over the weekend.

Republicans, lined up to vote against the bill, piled on the scorn. "This is not the smart approach," said Sen. Mitch McConnell of Kentucky, the Republican leader. "The taxpayers of today and tomorrow will be left to clean up the mess."

President Barack Obama delivered what has become a daily call for congressional action, this time from the industrial heartland. With approval of the bill, he said in Peoria, Ill., companies "may be able to start growing again. Rather than cutting jobs, they may be able to create them again."

He spoke at Caterpillar Inc., the heavy machinery giant that has announced 22,000 layoffs. The president has said in recent days the company has promised to rescind some of them once the stimulus passes, but Chief Executive Jim Owens said there probably would be more layoffs before that can occur.

At the Capitol and in an atmosphere of uncertainty, provisions were coming to light that had not been included in the original bills that passed the House or Senate _ or that differed markedly from earlier versions, or that appeared to brush up against claims of the bill's supporters that no pet projects known as "earmarks" were included.

One last-minute addition was a $3.2 billion tax break for General Motors Corp. that would allow the ailing auto giant to use current losses to claim refunds for taxes paid when times were good. GM got a $13.4 billion federal bailout late last year _ and is expected to receive more in 2009 _ and argued that without the provision, its government-financed turnaround plan could force the company to pay higher taxes.

The legislation does not mention GM specifically, but the company has been lobbying hard for the provision for months, with help from Michigan's representatives in Congress. "We wanted to make sure that the restructuring wasn't counteracted," said Rep. Sander M. Levin, D-Mich., a supporter of the provision.

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News & Politics

Tags:

• Economic
• Collapse
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• Depression
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• Revolution
• recession
• new
• world
• order
• stimulus
• bill
• plan
• package
• hyperinflation
• ruin
• impending

[jkfromcincty]

Why is Ms. Beck so paranoid?

[TheDaviddavidh123]

globalism is not a conspiracy unless you watch cnn or fox .yes i said fox also .what does that have to do with this video/// everything all this stuff is desighned to confuse and destroy ...part ...of... globalism people yes gloablism is real unless your on here to make statements not worthy of refutation or dont have to work or are a rich corporate ceo etc rich from your profits by sending jobs to india, mexico,china etc.

[TheDaviddavidh123]

its all about the globalists who are not either democrate nor rebublican the governmant and the major corporations [same entity].....are leading you people around like a bunch of lab rats brainwashing you with this dem/ repub /liberal conservative stuff to keep you away from the real truth. like obama or bush .. it doesnt matter .wanna be feel original pull back look at big picture stop trying to impress with your dem or repub views globalists could care less about you nor this country anyone

[usnrnurse]

Well Glenn! I think you're the best thing on radio and TV! You go man!

[HLGxFeaR]

I've come to the conclusion Glen that your either mentally retarded or a genius. Most likely your just mentally retarded. Yea definitely retarded.

[djmultimusic]

Why isn't there an uproar over the 8.5 TRILLION spent by the Federal Reserve? They are tricking us into being concerned about this 800 billion when the FED has spend 10 times that since Fall of 07! As long as we are uninformed and ignore the FED & focus on the political back and forth, instead of the real issues we will continue to be screwed. WAKE UP PEOPLE!!! dont' fall victim on the politicians game.. they are robbing us and they are hoping we just argue about the stimulus. WAKE UP!

[DavosLogos]

Glenn beck the retard.

Our new conspiracy nutjob.

We will miss you Alex , welcome Glennofagg.

[tsenaku]

What he, like most other republicans/business men are really affraid of is that the rich will have to compensate for the middle class and under's tax breaks, and he's affraid that fox will collapse under a socialist government because it has capitalist ideals, media is made to scare people because scary stories sell, and in a capitalist economy selling is more than what your buying is everything, america on a whole isn't verr good at it.

[SetiDraconis]

Glen calls it how it is.

[tbullock87]

now get real madd!