Bush and House in Accord for $150 Billion Stimulus
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The deal capped a series of fast-paced and intense negotiations after both parties had to agree to numerous compromises after more than a year of acid relations.
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The House on Thursday passed a &#36;145.9 billion package of tax relief to extend three popular middle-class tax cuts, giving President Bush his fourth major tax victory since taking office.
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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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Democratic and Republican leaders in Congress reached a tentative deal with the Bush administration on tax rebates and business tax cuts.
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The House and the Senate overwhelmingly approved the $146 billion measure, sending President Bush what would be his fourth tax cut in four years.
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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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The House voted to approve the fiscal stimulus package, hoping to quickly seal a fast-paced deal with the Bush administration. But Senate Democrats forged ahead with their own, more expensive plan.
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President George W. Bush on Friday  called on Congress to give the U.S. economy a "shot in the arm"  with an election-year package of temporary tax cuts and other  measures worth up to $150 billion.
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President Bush said in an interview on Monday that Congress could help hold off a recession by passing a stimulus package.
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The Senate Finance Committee  approved a $157 billion economic stimulus package on Wednesday  that offers smaller tax rebates to more people than a plan  passed by the House of Representatives.
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The U.S. House of Representatives on Tuesday overwhelmingly approved a plan to give the U.S. economy a $146 billion election-year boost through tax rebates and other measures to stave off a possible recession by boosting business and consumer spending.
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Congress, facing the prospect of an election-year recession, passed an emergency plan Thursday that rushes rebates of $600 to $1,200 to most taxpayers and $300 checks to disabled veterans, the elderly and other low-income people. President Bush indicated he would sign the measure.
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Congressional leaders and the White House reached a tentative deal on a package that would pay stipends of $300 to $1,200 per family and provide tax incentives for businesses.
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US president proposes stimulus package of about $145b to stave off recession as economy struggles
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The House overwhelmingly approved a $146 billion shot in the arm for the nation's ailing economy yesterday, sending a stimulus package to the Senate with a bipartisan appeal not to slow down the bill with significant changes.
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Democrats running Congress and the Bush administration reached a tentative deal Thursday on $300-$1,200 tax rebates and business tax cuts to jolt the slumping economy
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The White House on Thursday confirmed that an agreement had been reached with Congress on an economic growth package and said President George W. Bush was expected to make a statement later in the day.