White House and lawmakers near economy plan
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The White House and U.S. lawmakers moved closer on Wednesday to agreement on an election-year economic package that President George W. Bush said would be "robust" enough to lift the economy out of the doldrums.
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Lawmakers have given their final seal of approval to a $170 billion plan intended to spark the slowing economy.
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A legislative package designed to stimulate the slumping economy could be passed by Congress and signed into law by President George W. Bush within a month, House Majority Leader Steny Hoyer said on Wednesday.
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Pushing deficit concerns aside, Democratic and Republican leaders appeared close to agreement with the White House Wednesday night on emergency tax cuts and benefit increases to jolt the economy out of its slump.
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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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President George W. Bush on Friday plans to call for an economic stimulus package equal to about 1 percent of U.S. gross domestic product, according to a White House document obtained by Reuters.
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Mitt Romney, who has pledged to bring his business sense to the White House, outlined an economic stimulus package Saturday far bigger than anything President Bush, congressional leaders or top presidential rivals have suggested.
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Most economists called the emergency spending plan agreed to by the White House and Congress on Thursday as useful, but flawed and probably not enough.l
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An economy with blue skies, happy workers and prosperity for all, just around the corner. That's the sunny picture painted Wednesday at President Bush's economic conference, where nary a discouraging word was uttered and Bush's second-term priorities were resoundingly praised. In reality, Bush will have a hard time getting any of his major proposals through a skeptical Congress.
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The ritual pledges of political cooperation are in place. Now the challenge for a lame duck Bush administration and an election-year Congress is to agree swiftly on an economic stimulus plan.
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Concern about a possible recession is bringing the president and lawmakers closer to agreeing that an economic stimulus package is needed soon, officials said.
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A legislative package to stimulate the U.S. economy and avert a possible recession could be passed by Congress and signed into law by President George W. Bush within a month, House Majority Leader Steny Hoyer said on Wednesday.
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The White House and the Democratic-led Congress have reached a tentative deal on a $150 billion economic stimulus plan that includes tax rebates for workers and business investment incentives, congressional sources said on Thursday.
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A legislative package designed to  stimulate the slumping economy could be passed by Congress and  signed into law by President George W. Bush within a month,  House Majority Leader Steny Hoyer said on Wednesday.
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Top House leaders discussed plans for tax rebates, breaks for business and additional food stamp and unemployment insurance benefits as President Bush and Federal Reserve Chairman Ben Bernanke voiced support for steps to avert a recession.
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Congress and the White House need to work together to get the U.S. economy back on track, a leading Senate Democrat said Saturday.
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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.