US President Barack Obama has hailed congressional approval of a 600 billion euro economic stimulus plan as a “major milestone on our road to recovery”.
The Senate cast the final vote 60-38, hours after the House of Representatives passed an identical bill ending weeks of debate over how best to combat the recession. Nancy Pelosi, Speaker of the House of Representatives said: “Barack Obama, in just a few short weeks as president, has passed one of the biggest packages for economic relief in our country’s history. Probably the biggest tax cut for the middle class, investments in our future that I already mentioned.” The president could sign the bill as early as next month. Obama gave a thumbs-up sign upon hearing of the package’s progress through the House. But he said it was only the beginning of what needed to be done to help the ailing US economy.