Thursday, January 29, 2009

House Passes Economic Recovery Package

The House of Representatives passed an $819 billion economic recovery package yesterday evening. Although both policymakers and the Administration had hoped to pass a bipartisan measure, this legislation passed on a near party-line vote totaling 244-118.

This economic recovery package, entitled the "American Recovery and Reinvestment Act" includes several amendments regarding transportation and infrastructure projects; however, no housing-related amendments were considered on the floor or included in the final version of the House bill.

Speaker of the House, Nancy Pelosi, released this press statement celebrating the passage of this bill declaring yesterday's vote a "victory for the American people."

Or, view the video below and watch Speaker Pelosi discuss this legislation on the House floor.

The Senate is expected to continue debate on it's version of the economic recovery package this week. Policymakers believe that the Senate will vote no later than next Monday, February 2.

To read more about the House-passed version of the "American Recovery and Reinvestment Act" check out this article in today's Washington Post.

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