Wednesday, February 6, 2008

Vote near in Senate showdown over economy

Senate Democrats want $200 billion stimulus plan. House version would cost $150 billion. Key issues include aid to seniors and unemployed.

Amid growing fears that a recession is imminent, the Senate is poised for a showdown over politically contentious proposals intended to spur the economy.

The Senate is debating changes to a bipartisan bill that was brokered by the Bush administration and House leaders. It was approved overwhelmingly by the House late last month.

A vote could come as early as Wednesday afternoon.

The goal of the legislation is to stimulate the flagging economy by putting cash in the hands of consumers while giving businesses financial incentives to invest in plants and equipment and create jobs.

The House bill brought out an unusual display of cooperation between Republicans and Democrats. But the Senate debate, as many observers had predicted, has gotten heated. The front-running White House hopefuls - Democratic Sens. Hillary Clinton and Barack Obama and Republican Sen. John McCain - are all expected to cast votes.

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