July 30, 2014
WASHINGTON (AP) - More details are emerging about President-elect Barack Obama's economic stimulus plan, which now has a pricetag of $825 billion.
House Democrats have been working closely with Obama aides on the measure. It calls for about $550 billion in federal spending and $275 billion in tax cuts over the next two years.
The package aims to revive the economy, and emphasizes outlays on energy, education, health care and highway construction that would create jobs.
Democratic leaders plan to unveil the new legislation later today.
The measure is one of two key elements in Obama's economic plan. He's also urging lawmakers to clear the way for the remaining $350 billion in the financial bailout fund. The Senate is expected to vote on that issue later today.
(Copyright 2009 by The Associated Press. All Rights Reserved.)