Obama Urges Quick Passage of Stimulus Plan
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Democrats, who have 58 of the 100 seats in the Senate, will need at least two Republican votes in the Senate to avoid procedural roadblocks which could stymie the measure.
Republican Senator John McCain has proposed a US$445-billion plan, which includes US$275 billion in tax cuts for business owners and individuals.
The most ambitious effort to cut the bill is being led by Senator Democratic Ben Nelson and Republican Susan Collins, who urged to make a US$200 billion reduction.
Among the items at the Collins-Nelson proposal is targeting: US$1.1 billion for comparative medical research, US$350 million for Agriculture Department computers, US$75 million to discouraging smoking and US$650 million for wildlife management, according to the US media.
There is also growing support for a proposal sponsored by Republican Senator Johnny Isakson that would provide a 15,000 tax credit to all homebuyers in 2009.
"There's plenty of room to cut in this bill. It's time we started doing some of it," said Senate Minority Leader Mitch McConnell, who stressed earlier this week that the Republicans did not want to block the bill but modifications were needed.
To gain GOP support, Obama on Wednesday invited some centrist senators to the White House to discuss the stimulus package.
Lawrence Summers, head of the National Economic Council said on Wednesday he was confident that Congress would approve the stimulus package before the mid-February deadline.
"I expect a bill to be signed into law on the President's timetable," said the Obama's top economic advisor. "I believe this bill is imperative for our economic security, and I've got great confidence that in our country we do the right thing."
(Xinhua News Agency February 5, 2009)