The House and Senate gave final congressional approval to sweeping economic-recovery legislation, marking a new milestone of federal intervention in the nation’s economy.
The action came a little more than a year after the Democratic Congress, pushed by then-President George W. Bush, adopted a stimulus package that was less than a third the size of the revised $787.2 billion plan approved Friday.
How am I going to spend my extra $8.00/week, what will I do with my stimulus money? Obama and the Democrats are too kind to the American citizens.
After a month of wrangling, Congress voted to pass a compromise economic recovery package of spending provisions, tax cuts and aid to laid-off workers and their families. The 1,073-page bill contains hundreds of provisions.
Not a single Republican backed the package Friday in the House, where seven Democrats joined 176 Republicans in opposition, and 246 voted for it.
Hours later, the Senate, voting 60-38, cleared the measure to be sent to the White House for President Barack Obama to sign into law. Three Republicans joined with 57 Senate Democrats in support of the package; 38 Republicans voted against it. source.
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Citation Details
Title: Peter Grace. (CEO of W.R. Grace and Co.) (N.B.)
Author: Paul Helou
Publication: Chief Executive (U.S.) (Magazine/Journal)
Date: June 1, 1992
Publisher: Chief Executive Publishing
Issue: n77 Page: p19(2)
Distributed by Thomson Gale
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