White House open to compromise on stimulus plan
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The White House on Tuesday opened the door to expanding an economic stimulus plan to revive the ailing U.S. economy when a top official offered to extend a tax rebate to some 20 million retirees and disabled veterans.
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In Washington, as anxious eyes were fixed on the stock markets, President Bush and Democratic leaders settled into a detente yesterday, cautiously moving toward agreement on an economic stimulus package.
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Economic stimulus proposals favored by Democrats, including tax rebates, extended unemployment benefits and a temporary increase in food stamps, are cost-effective ways for Congress to try to boost the economy, the Congressional Budget Office said Tuesday.
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President Bush urged Congress today to quickly pass the economic stimulus plan that would give Americans tax rebate checks. But many Senate Democrats want to include extended unemployment benefits in the plan -- a provision House Democrats agreed to drop.
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The White House and the Democratic-led Congress on Thursday reached a tentative deal on an economic stimulus package of tax rebates for families and incentives for business investment with a cost that a top Democrat said may exceed $150 billion.
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The House today overwhelmingly approved a $146 billion economic stimulus package that would provide rebate checks to taxpayers. The measure now goes to the Senate, where some Democrats want to amend it to add more benefits. President Bush wants the bill passed as is, so that it can be put to use more quickly to boost the economy.
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New York Mayor Michael Bloomberg said Wednesday the White House and Congress are negotiating a shortsighted economic stimulus package and should focus instead on encouraging immigration and helping strapped homeowners.
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United for urgent action, the White House and Congress raced toward emergency steps Thursday to rescue the national economy from a possible recession, including tax rebates of at least $300 a person Â and maybe as much as $800.
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President Bushâs suggestion of an economic stimulus package is the clearest indication yet of a growing concern inside the White House over the possibility of recession.
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Republican White House hopeful Fred Thompson made light of Federal Reserve Chairman Ben Bernanke's call for a quick economic stimulus Thursday and said it might be best to leave the economy alone for now.
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WASHINGTON The White House and lawmakers are getting close to agreement on a 388 (b) billion-dollar spending measure that could be ready for votes today.
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President George W. Bush was open to a bigger economic stimulus than the $150 billion package he has proposed, the White House said on Tuesday as turmoil in world financial markets and fears of a recession prompted lawmakers to call for urgent action.
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Democratic leaders in the U.S. House  of Representatives on Tuesday began laying the groundwork for  an economic stimulus plan of about $100 billion that likely  will include tax rebates to help stave off a possible  recession.
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US president proposes stimulus package of about $145b to stave off recession as economy struggles
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Faced with a deteriorating economy, Federal Reserve Chairman Ben Bernanke has indicated he is open to congressional and White House efforts to develop a rescue package to avert a recession.
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Stocks were set to open little changed on Wednesday as worries about recession offset optimism on news the White House is considering a stimulus package to spur the economy.
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The White House, seeking a strong economic team to craft and sell key features of its second-term agenda, is considering tapping Federal Reserve Board member Ben S. Bernanke to serve as chairman