President Barack Obama to Sign Stimulus Plan into Action

President Barack Obama will be signing the controversial stimulus plan into action on Tuesday following the approval of Congress which voted on the bill last week.

Obama will sign off on the $787 billion stimulus package at a ceremony in Denver with hopes that the plan will jump start the struggling economy and provide relief for those out of work. The federal money has been designated for the health care sector, renewable energy projects, education, transportation projects and conservations programs while also providing $240 billion in tax breaks for individuals and businesses.

Despite Congressional approval Obama’s stimulus plan received no Republican backing in the House and only three Republicans supported the bill when the Senate voted on the plan. Republicans have criticized the plan for its insufficient tax cuts and its massive spending plans.

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