Wednesday, January 30, 2008

US economy plan passes first test

The US House of Representatives has approved a $146bn (£73bn) economic stimulus package proposed by President George W Bush to fend off a recession.

The measures include rebates for people with lower incomes as well as tax incentives for businesses.

Correspondents say while the package passed the House vote easily, its fate in the Senate will be less clear-cut.

There, both parties are backing a slightly more expensive package that favours the elderly and unemployed.

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