House Passes $819 Billion Stimulus Plan

Despite unanimous Republican opposition the House of Representatives passed an $819 billion stimulus bill Wednesday night. The vote was 244-188, with all Republicans voting in opposition while all but 11 Democrats voted in favor of the bill.



The White House-backed legislation includes an estimated $544 billion in federal spending and $275 billion in tax cuts for individuals and businesses. The totals remained in flux nearly until the final vote, due to official re-estimates and a last-minute addition of $3 billion for mass transit.

The House passage is just the first step of several for the legislation, which Democratic leaders have pledged to deliver to the White House for Obama's signature by mid-February.

Source: Associated Press

Suggested reading:

• NY Times: Stimulus Package’s Components Vary in Speed and Efficiency
• Bloomerberg: U.S. House Passes Obama’s $819 Billion Stimulus Plan (Update3)
• BusinessWeek: Stimulus: Now the Real Action Begins
• Full text of the bill: HR 1 American Recovery and Reinvestment Act of 2009