Tech & Biz

House and Senate Agree on Key Stimulus Item

by Jordan Yerman | February 12, 2009 at 09:07 am

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As the economic stimulus package makes its way through Congress, a key sticking point has been worked out between the House and the Senate.

The issue regarded education funding: money for new school construction was cut, and re-earmarked for renovation of existing schools.

Details on how they settled it were not immediately available. Word that the final snags were being untangled came after back-and-forth reports Wednesday on the massive relief package's status.

Senate Majority Leader Harry Reid had announced a compromise bill early Wednesday afternoon. But about 90 minutes later, aides to House Speaker Nancy Pelosi said that, although Pelosi had known Reid was planning the announcement, the two were meeting again to iron out differences over a provision on education spending.

The bill is a mixed blessing for the auto industry, as General Motors wins a tax break for its restructuring, but the automakers as a whole lost out on a proposed tax credit for car buyers.

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E S (not verified)

at 07:40 on February 14th, 2009

what will Obama's "stimulus package" do for the everyday working person?

epitomizedAmerican

at 07:53 on February 14th, 2009

I will answer that,NOTHING!,this package is just another nail in Americas coffin,part of an long orchastrated plan to bankrupt the last stronghold of Soveriegnty and might,to then go on to a new world order of globilization,the implications of that are so profound and yet simple if you have ever read the Bible