Economic Stimulus Plan Reached as Package Earns Approval from Senate and House

The Senate and House of Representatives have finalized an agreement to push forward President Barack Obama’s economic stimulus plan, putting $789 billion on the table to lift the U.S. from its economic clump.

The stimulus plan includes tax breaks as well as spending plans designed to create jobs and aid those in need. While the Senate and House reached a compromise on the bill it will still need to be approved by a vote, something most expect to happen by Thursday. Obama would then sign the bill into law.

Both the Senate and the House received the stimulus plan and made changes before coming together on Wednesday to settle their differences and reach an agreement. The new bill will create more jobs than the Senate approved bill and provide more tax cuts than the House approved version.

Democrats control both the Senate and the House and the bill managed to pass with little Republican support. Republicans have been upset with the price tag that has been thrown on the bill and have criticized the spending associated with the stimulus plan.

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