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U.S. Senate To Vote on $780 Billion Stimulus Package

by Terri Potratz | February 6, 2009 at 07:17 pm

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The US Senate will vote on an amended stimulus package worth $780 billion in coming days, intended to pull the US economy out of a recession. It looks as though the bill will easily gain the 60 votes it needs to pass - especially as Democrats hold a 58 majority in the Senate, and there are at least 4 Republicans who are expected to support the bill.

A $780 billion package would be significantly smaller than the bill the Senate spent the week debating. When the stimulus package passed through the House of Representatives, it was at $819 billion, but estimates were suggesting it would have reached about $937 billion by the time it got Senate approval.

Democratic Senator John Kerry told reporters Friday night that the package will be split between 42 per cent tax cuts and 58 per cent government spending.