US: Congress Sends Obama US$787bn Economic-Stimulus Package
Congress gave final approval to a US$787bn economic stimulus package that imposes stricter limits on executive pay and bonuses at companies receiving Federal bailouts than those proposed by the Obama administration. The Senate late Saturday voted 60 to 38 to approve the legislation. Three Republicans joined Democrats in favour of the measure. Earlier in the day the House passed the bill, 246 to 183, with no Republicans in favor. This historic step won’t be the end of what they do to turn their economy around, but rather the beginning, Obama said. (Bloomberg)
Congress gave final approval to a US$787bn economic stimulus package that imposes stricter limits on executive pay and bonuses at companies receiving Federal bailouts than those proposed by the Obama administration. The Senate late Saturday voted 60 to 38 to approve the legislation. Three Republicans joined Democrats in favour of the measure. Earlier in the day the House passed the bill, 246 to 183, with no Republicans in favor. This historic step won’t be the end of what they do to turn their economy around, but rather the beginning, Obama said. (Bloomberg)