House and Senate Agree on Key Stimulus Item
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.