House approves Obama's $819- billion economic stimulus plan

    In a victory for the week-old Obama administration, the House approved an $819-billion stimulus bill last night, despite a complete lack of Republican support.
    In a 244-188 vote largely along party lines, the body endorsed the package of federal tax cuts and spending that will serve as the cornerstone for President Barack Obama's plan to revive the ailing economy.
    The legislation contains around $550 billion in federal spending and $275 billion in tax cuts. The two-year plan will provide over $300 billion in aid to states, aiming to strengthen domestic infrastructure and healthcare for the poor.
    It also features a $500 tax cut for single workers and a $1,000 cut for couples.
    "This recovery plan will save or create more than 3 million new jobs over the next few years," Obama said in a written statement released after the passage of the bill.
    The measure reflects a belief in Congress that quick action must be taken in light of an economic crisis of historic proportions.
    Earlier in the day, Obama met with top business executives to promote his plan. He also worked hard to garner the support of House Republicans, making an unusual visit to the Capitol on Monday.
    Even with these efforts, which included the usage of traditionally Republican business-related rhetoric, Obama failed to entice Republicans to vote for the bill. House minority leaders pointed to the bill's failure to enact larger tax cuts at a time when thousands of jobs are being lost.
    Earlier in the day, a stimulus package put forward by House Republicans failed to pass by a vote of 266-170. That bill focused primarily on tax cuts.
    In a statement after last night's House vote, Obama noted the rift between Democrats and Republicans.
    "The plan now moves to the Senate, and I hope that we can continue to strengthen this plan before it gets to my desk," the statement read. "But what we can't do is drag our feet or allow the same partisan differences to get in our way. We must move swiftly and boldly to put Americans back to work, and that is exactly what this plan begins to do."
    In the Senate, Republicans have indicated that they will seek to add an adjustment of the alternative minimum tax, which would impact middle-income citizens and possibly raise the cost of the stimulus package to $900 billion. There are signs that Democrats may support such a proposal.