House passes rescue bill sans GOP backing

29 Jan 2009

1

As expected, the Obama administration's $819 billion rescue package for the US economy sailed through the House of Representatives, with 244 for and 188 against.

However, the vote was almost entirely along party lines, showing that the Republicans are banding together as an opposition party despite the new president's manifest appeals (See: Obama visits Republicans to push relief bill)

All Republicans who were present voted against the bill. They were joined in their opposition by 11 Democrats. This is a clear blow to President Obama's push for bipartisan support for the bill, after he had argued that a new style of politics is needed in Washington.

A far tougher test awaits the bill in the Senate, with the GOP banding together and even some Democrats opposing it.

Just ahead of the House vote, the Republicans insisted that their own plan, focusing on greater tax relief, would create twice as many new jobs - 6.2 million - as Obama's plan, while costing about half as much. Even so, passage of the House bill was a victory for Obama, who had visited Capitol Hill on Tuesday to push for his plan.

The bill presented to the House had originally been estimated to cost $825 billion, but recalculations by the Congressional Budget Office (CBO) lowered the bill's price tag to $816 billion.

That again rose by $3 billion when the House approved on a voice vote a Democratic amendment for mass transit.

Latest articles

OpenAI launches ‘Frontier’ AI agent platform in enterprise push

OpenAI launches ‘Frontier’ AI agent platform in enterprise push

Toyota set for third straight quarterly profit drop as costs and tariffs weigh

Toyota set for third straight quarterly profit drop as costs and tariffs weigh

Foxconn Q1 Outlook Soars as AI Server Demand and Smart Electronics Beat Expectations

Foxconn Q1 Outlook Soars as AI Server Demand and Smart Electronics Beat Expectations

Novo Nordisk posts first Ozempic sales decline in greater China as competition intensifies

Novo Nordisk posts first Ozempic sales decline in greater China as competition intensifies

Air India Express set for first operating profit under Tata, internal memo indicates

Air India Express set for first operating profit under Tata, internal memo indicates

Toyota eyes 30% jump in hybrid output by 2028 as electrification strategy evolves

Toyota eyes 30% jump in hybrid output by 2028 as electrification strategy evolves

MediaTek warns AI boom is straining chip supply chains, signals price adjustments

MediaTek warns AI boom is straining chip supply chains, signals price adjustments

Ford and Geely Explore Manufacturing and Technology Partnership Amid Rising Auto Costs

Ford and Geely Explore Manufacturing and Technology Partnership Amid Rising Auto Costs

KKR and Singtel to acquire full control of STT GDC in S$6.6 billion AI-driven data centre deal

KKR and Singtel to acquire full control of STT GDC in S$6.6 billion AI-driven data centre deal