The U.S. Senate passed an $838 billion fiscal stimulus plan Tuesday by a vote of 61-37. The measure passed a key procedural hurdle Monday evening when the stimulus garnered 60 votes needed to pass cloture. The legislation is now one step closer to President Barack Obama's desk, as both bodies of Congress - the House and the Senate - must now reconcile their two versions of the bill.
The House version is smaller at $819 billion, and received no GOP support - every Republican representative voted against the bill. However, now Democrats and Republicans from both houses must get together and compromise on a final bill. They must move quickly in order to meet Obama's deadline of President's Day to sign the massive stimulus into law.
The Obama administration has been pushing for the stimulus, no one more forcefully than the President himself. He traveled to Ft. Meyers, Florida Tuesday in order to continue his public tour in support of the stimulus.
"The situation we face could not be more serious," Obama said. "We have inherited an economic crisis as deep and as dire as any since the Great Depression."
"I can tell you with complete confidence that a failure to act in the face of this crisis will bring only deepening disaster. Doing nothing is not an option," Obama added.
He noted that the "time for talking is over.and the time for action is now."
The House version is smaller at $819 billion, and received no GOP support - every Republican representative voted against the bill. However, now Democrats and Republicans from both houses must get together and compromise on a final bill. They must move quickly in order to meet Obama's deadline of President's Day to sign the massive stimulus into law.
The Obama administration has been pushing for the stimulus, no one more forcefully than the President himself. He traveled to Ft. Meyers, Florida Tuesday in order to continue his public tour in support of the stimulus.
"The situation we face could not be more serious," Obama said. "We have inherited an economic crisis as deep and as dire as any since the Great Depression."
"I can tell you with complete confidence that a failure to act in the face of this crisis will bring only deepening disaster. Doing nothing is not an option," Obama added.
He noted that the "time for talking is over.and the time for action is now."
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