US Cong passes $819 bn rescue package | world | Hindustan Times
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US Cong passes $819 bn rescue package

world Updated: Jan 30, 2009 00:26 IST
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The US House of Representatives approved a $819 billion economic stimulus bill on Wednesday night, offering an early legislative victory in Barack Obama’s presidency.

The legislation will send tens of billions of dollars to the states, which confront deep budget cuts.

The money marks an attempt to ease the recession’s impact on schools and health coverage to the poor. Money will also go toward school construction and road building.

“This recovery plan will save or create more than three million new jobs over the next few years,” Obama said, in a written statement.

The bill was sent to the Senate, where debate could begin as early as Monday on a companion measure already taking shape.