US senators work furiously to get support for massive stimulus

Democratic leaders made last-ditch attempts Thursday to convince the US Senate to support an unprecedented stimulus package that President Barack Obama has said is critical to reviving the US economy, dpa reported.

Legislators said they expected a final vote on the package late Thursday, but the prospects of the bill's passage remained uncertain.

The Senate's version currently totals more than 900 billion dollars over two years - larger than any other stimulus in US history - but a number of proposed changes were expected to bring the cost down again before a final vote.

"The time for talk is over. The time for action is now," Obama said during an event at the US Energy Department. He argued that the "scale and scope" of the plan was necessary to pull the economy out of recession and challenged legislators "to rise to this moment."

The House of Representatives passed an 819-billion-dollar stimulus last week. If passed by the Senate, the two chambers would have to iron out differences between their two versions over the course of next week.

Many Republicans and fiscally conservative Democrats remain unconvinced of its merits. More than a dozen moderate Republican and Democratic senators met in the morning to discuss changes that could bring more lawmakers on board.

Obama has said the bill will save or create at least 3 million jobs over the next two years, after the world's largest economy lost 2.6 million jobs in 2008. The non-partisan Congressional Budget Office in an analysis Wednesday said it would create between 1.3 million to 3.9 million jobs by the end of 2010.

Obama invited a number of centrist Republicans and Democrats for one-on-one meetings at the White House on Wednesday, making what the senators described as a persuasive case that the package needed to be robust enough to have a real impact on the economy.

Susan Collins, a Republican senator from Maine, said she was "convinced" by the president that a large package was necessary, but not as high as what the Senate was considering. Collins said she would be pushing for amendments through Thursday.

The debate centered largely on government spending programmes, which account for about two-thirds of the package and include investments in renewable energy, transportation and healthcare. About one third is comprised of tax cuts and incentives for car and home buyers in order to revive consumer spending.

Some senators said they expected about 100 billion dollars in spending to be removed from the package by the end of the day.

But that was still not enough for many, who warned the stimulus would raise the country's budget deficit over 10 per cent and was not targeted enough on programmes that would create jobs.

"It is not a stimulus bill. It is mostly a spending bill. It is not money we have. It is money we are borrowing," said Republican Senator Lamar Alexander of Tennessee. "I'm very disappointed by this. I had expected better."

Subscribe to Trend in Google News! Subscribe
Prices on several main food products in Kazakhstan continue to lower
Prices on several main food products in Kazakhstan continue to lower
Uzbekistan intends to increase dried fruit exports to China
Uzbekistan intends to increase dried fruit exports to China
Uzbek Commodity and Raw Materials Exchange reveals volume of its transactions
Uzbek Commodity and Raw Materials Exchange reveals volume of its transactions
Loading Bars
Latest
Iran’s SPGC shares data on production of its fifth refinery
Baku International Sea Trade Port unveils cargo transshipment for 10M2021
Pakistan receives $3 billion loan from Saudi Arabia
VISA open to co-op with all key players in Azerbaijan’s transport sector (Exclusive)
6.1-magnitude earthquake rattles southern Philippines
Soyuz-ST-B with 2 Galileo satellites launched from Kourou spaceport
Dutch former queen Beatrix tests positive for COVID-19
10 mln French have received COVID-19 booster shots: minister
Iran abandoned any compromises in latest nuclear talks - U.S.
Chile reports first case of Omicron variant
White House confirms plans of holding video call between Biden and Putin on December 7
Vienna talks on Iran nuclear deal to resume next week - Russian Foreign Ministry
1 killed, 40 injured following volcanic eruption in Indonesia
Body of another Armenian serviceman found on Azerbaijan's Khojavand
Bitcoin tumbles 9.95% to $48,397.56
Passenger transportation via Iran's Kermanshah International Airport declines
UK records another 42,848 coronavirus cases
Explosion occurred near Iran's nuclear facility
Azerbaijan hands over to Armenia body of saboteur neutralized in attack on Azerbaijani serviceman in Khojavand
Azerbaijan talks entreprises to be commissioned at Aghdam Industrial Park
Major terrorist attack against rally with Erdogan's participation prevented in Turkey
Great number of EU, NATO countries interested in Turkish drones - Cavushoglu
Georgian PM meets with President of FIBA Europe
OSCE MG ready to host meeting between Azerbaijani and Armenian FMs
Value of Azerbaijan's export to US surges for 10M2021
Prices on several main food products in Kazakhstan continue to lower
Agrarian sector of ‘smart village’ in Azerbaijan’s Zangilan to be combined modern urban planning – minister
Azerbaijan discloses project cost of agropark in Yevlakh (PHOTO)
Buy/sell operations at Iran Mercantile Exchange down
Saudi Arabia, France agree to strengthen cooperation
Biden, Putin to hold video call on Tuesday
India, Australia are natural economic partners, says Tony Abbott
Azerbaijan receives mine maps of its territories liberated from Armenian occupation
Erdogan discusses humanitarian aid with Red Crescent, Red Cross
Uzbekistan intends to increase dried fruit exports to China
No Omicron strain detected in Georgia - NCDC Head
Aligarh’s Areeba shoots to fame, breaks stereotypes about Muslim girls
Iran’s Bahar Azadi gold coin price skyrockets
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,406 more COVID-19 cases, 1,787 recoveries
Tactical exercises held in Azerbaijan's commando military unit - MoD (PHOTO/VIDEO)
New composition of Supervisory Board of Azerbaijan Industrial Corporation approved
Iran reveals COVID-19 data for December 4
President Ilham Aliyev sends congratulations to heads of Thailand, Finland
France, Europeans working to open joint mission in Afghanistan - Macron
Ranking of natural gas importers from Azerbaijan
Uzbek Commodity and Raw Materials Exchange reveals volume of its transactions
SOCAR Georgia Gas announces tender on gas stations restoration
Iran eyes increase in passenger transportation via Yazd Shahid Sadooghi Airport
Azerbaijan reveals oil exports to Canada in 10M2021
Weekly review of main events in Azerbaijan's transport sector
Turkmenistan’s president approves anti-crisis program for 2022
Azerbaijan’s liberated territories have high potential for solar energy - RES agency
Weekly review of key events in Azerbaijan's ICT sector
Russian company to help automate, digitalize processes in Uzbek energy sector
Iran reaches increase in load/unload operations in Shahid Bahonar port
Top 10 Azerbaijani oil importers
MFA reveals reason why Armenia-Azerbaijan ministerial meeting didn't take place
Kazakhstan talks construction of wind power plants in Kostanay region
Azerbaijan achieves practical results to restore hydropower plants in liberated lands - agency's CEO
Azerbaijan’s metallurgical company notes increases in steel production over 9M2021
Iran also to be able to take advantage of Zangazur corridor – ex-Iranian ambassador to Azerbaijan
Russia-UAE trade turnover hits fresh all-time high surpassing $4 bln - Mishustin
Kazakhstan’s Almaty Power Plants to buy pumping, ventilation equipment via tender
Azerbaijan discloses oil exports to Ukraine over 10M2021
Azerbaijan unveils volume of oil exports to Belarus in first 10M2021
Georgian Railway shares updated report on income within 9M2021
Azerbaijan’s 10M2021 oil exports to UK revealed
Kazakhstan to timely fulfill its obligations under COP26 – PM
Azerbaijan opens investment tender to privatize Sumgayit Construction Service company
Iran finds way to supply its far north, north-east provinces with gas
Georgia releases COVID-19 data for December 4
LUKOIL Uzbekistan Operating LLC opens tender for supply of shut-off and control valves
Mikheil Saakashvili not to be treated abroad – Georgia's minister
Russia offers Azerbaijan to switch to barcoding for fruit, vegetables exports
Tripartite gas swap deal with Turkmenistan, Azerbaijan, may help Iran kill two birds with one stone
Azerbaijan Mortgage and Credit Guarantee Fund issues record amount of loans in 10M2021
Goods movement across Azerbaijani-Russian border to be accelerated
Azerbaijani oil prices increase
Kazakhstan boosts trade with Romania over 9M2021
Weekly review of Azerbaijan's oil & gas sector
Weekly review of Azerbaijani precious metals market
Weekly review of Azerbaijani currency market
Treatment of servicemen injured in helicopter crash of Azerbaijan’s State Border Service continues
Turkey to support Azerbaijan in installing seismic stations in Karabakh
Iran aims to increase local solar power production
Gamaleya Center ready to accept state order for up to 10 mln sets of Sputnik M
Kazakhstan’s Intergas Central Asia to buy welding equipment via tender
Georgia’s export of oil products increases
India’s air defence gets a big boost, Russia starts delivery of S-400 missiles
India's defence procurement guided by national security interests: MEA
Uzbekistan shares domestic COVID-19 data for December 3
Iranian currency rates for December 4
Turkey's export product labeling changes
S.Korea reports record-high COVID-19 cases, deaths
Iran, China review cinematic cooperation
Georgia and Poland have potential for development of bilateral trade
Kyrgyzstan, Russia presidents hold telephone conversation
Japan PM Kishida likely to cancel U.S. visit due to Omicron
Militants kill at least 31 in central Mali, say local authorities
All news