Waterfront News

by Carla L. Davis

 

The new $789 billion stimilus plan could reach President Obama’s desk as early as Monday, this after both the House and Senate enter into final votes.

While a smaller dollar amount than originially suggested, this plan is aimed at aiding an economic and job market recovery.

Vice President, Joe Biden, spoke yesterday on the matter, noting, "I don’t think anyone looking at what’s going on in the economy can have any doubt about the depth of the problem we’re facing.  We’re long past that debate. ... Just last month, in one month we lost 600,000 jobs in America. And all the evidence is that job loss is accelerating -- accelerating, not decreasing, not slowing down. So we need to act, and we need to act now."

President Obama thanked Congrees in a statement Wednesday, for coming together on a plan that "will provide immediate tax relief to families and businesses."

The forward movement in Congress is thanks in part to compromises by both party sides.

The Recovery and Reinvestment Act of 2009 hits on 6 key issues:

1. modernize the nation’s infrastructure;

2. enhance America’s energy independence;

3. expand educational opportunities;

4. preserve and improve affordable health care;

5. provide tax relief; and

6. protect those in greatest need.

Published: February 13, 2009