Sunday, February 1, 2009

Stimulus Finding Trouble In The Senate

Hope your weekends are going well, this is just a quick article from CNBC that I want you to take a look at. It's about how the stimulus package is losing more support from the Republican party. 

The U.S. Senate's No. 2 Republican warned Sunday his party's support for President Barack Obama's economic stimulus bill was eroding and "major structural changes" were needed to win Republican support.

"You have to start from scratch and reconstruct this," Sen. Jon Kyl of Arizona told "Fox News Sunday." He said the proposed bill, with a price approaching $900 billion, "wastes a ton of money." Kyl took issue with items in the bill, including a $500 tax rebate, the creation of dozens of new government programs and transfers of cash to states.

"There would be major structural changes that would have to occur," he said.

Republicans sought not to delay the bill, but wanted "huge amendments that would redirect it" to address the housing industry collapse and provide tax relief measures, Kyl said.

Sen. Richard Durbin of Illinois, the Senate's No. 2 Democrat, told the program that Democrats were "very open" to Republican ideas and amendments to the bill, including provisions on infrastructure spending and to provide oversight to avoid mistakes made in implementing the TARP bailout program.

The Obama administration and Democrats have already cut two provisions in the bill passed by the House of Representatives without a single Republican vote.

Looks like the bill is going to take longer than expected to get passed. 

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