The US Congress on Friday was expected to pass an unprecedented 789-billion-dollar package to rescue the economy, amid overseas worries about a clause aimed at steering the monies to US firms.
The House of Representatives was expected to vote in the afternoon, while the Senate targeted an evening vote on what would be the president's biggest political victory since taking office January 20.
But it was also bittersweet, as lawmakers were voting on a compromise stimulus plan that was smaller than Obama had requested and Republicans rebuffed his appeals to join Democrats in approving the bill.
A simple majority was required for House passage, while 60 votes were needed in the Senate to ensure passage over any last-minute parliamentary delaying tactics.
Obama, who had set a February 16 target date for getting the bill and could sign it anytime after he receives it, said that finishing the legislation was critical but only the start of his efforts to rescue the crippled US economy.
"Passing this plan is a critical step, but as important as it is, it?s only the beginning of what I think all of you understand is going to be a long and difficult process of turning our economy around," Obama said.
In a speech to business leaders at the White House, the president vowed more action to thaw frozen lending and repair the ruined US housing sector, saying quick, comprehensive action was needed "to truly address this crisis."
Republicans have blasted the plan, which supporters say will save or create some 3.5 million US jobs, as bloated with wasteful government spending and lacking in tax cuts -- the party's traditional cure-all for economic woes.
"This is not the smart approach. The taxpayers of today and tomorrow will be left to clean up the mess," said Senate Minority Leader Mitch McConnell, who pointed to a forecast one-trillion-dollar federal budget deficit.
The legislation, a product of hard-fought negotiations this week, includes 120 billion dollars in infrastructure spending, including monies for highways, trains and expanding broadband internet access.
It also features nearly 20 billion dollars for renewable energy and 11 billion to modernize the US electrical grid -- steps former vice president Al Gore warmly endorsed weeks ago as a major downpayment on Obama's strategy for fighting climate change.
The bill also includes tax cuts -- 95 percent of US families are expected to benefit -- and tens of billions of dollars for things like extending unemployment benefits, bolstering health care for the least well-off, and monies to help cash-strapped states avoid cuts in services like education.
Much of the overseas attention on the legislation has focused on a "Buy American" provision that, with and handful of exceptions, bars stimulus money from going to public works projects "unless all of the iron, steel, and manufactured goods used in the project are produced in the United States."
The final House-Senate version of the clause retained Senate language saying the limits must be applied "in a manner consistent with United States obligations under international agreements."
Supporters of the measure denied this amounted to diluting the provision, which had alarmed major US trade partners like Canada and Europe before lawmakers added the reference to treaty obligations.
Thursday, as lawmakers put the finishing touches on the bill, Republican Senator Judd Gregg announced he was withdrawing his nomination to be Obama's commerce secretary, citing "irresolvable conflicts" on issues like the stimulus.
Source: AFP American Edition
