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January 5, 2009

Obama, Congress Working on Economic Package
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http://enews.voanews.com/t?ctl=2153B9F:A6F02AD83191E1601D420E65CC4A9F140531BB26A5003E7B&
 
Mr. Obama to ask Congress to spend money to improve roads, bridges, mass
transit and schools 
President-elect Barack Obama meets with House Speaker Nancy Pelosi in
her office on Capitol Hill in Washington, 05 Jan 2009U.S.
President-elect Barack Obama is meeting with congressional leaders
Monday to work on a huge government spending package designed to
stimulate the nation's faltering economy. Mr. Obama says he will ask
Congress to spend money to improve roads, bridges, mass transit and
schools - a process he says will create three million jobs. His plan
also calls for tax cuts for workers and businesses, which may help gain
support from opposition Republicans. The whole package is expected to
cost around $750 billion. Senate minority Republican leader Mitch Mc
Connell says he hopes Congress will allow bipartisan input on the
package. House majority Democratic Leader Steny Hoyer says the stimulus
plan likely will not be ready when Mr. Obama takes office January 20.
But Hoyer says it could be done by early or mid-February. The 111th
Congress begins work on Tuesday, and will include lawmakers voted into
office in November. The president-elect says economists predict a steep
economic decline unless the government takes swift, bold action.

Monday, a new economic report showed continued problems for the U.S.
construction sector, as spending on new buildings fell six-tenths of one
percent in November. While the report shows a decline, is was less than
many economists predicted. Some information for this report was provided
by AFP, AP and Reuters. 


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