Obama, set to sign stimulus plan,
US President Barack Obama is due to sign his hard-fought economic stimulus plan in Denver, after Congress approved the $787bn (£548bn) package last week.
Mr Obama has high public approval ratingsdespite tensions in Washington
The unusual ceremony is being held at a Denver museum, away from the partisan tensions still gripping Washington.
The plan got no Republican support in the House of Representatives and just three Republican votes in the Senate.
Republicans say the tax cuts are insufficient, and that the economy will be saddled with debt for years to come.
The signing of the massive stimulus measure is designed to start the flow of federal money toward infrastructure projects, health care, renewable energy development and conservation programmes.
The approved version of the plan is split into 36% for tax cuts and 64% percent in spending and money for social programmes.
Protectionism
The bill also includes a controversial “Buy American” provision that, despite being watered down, has angered US trading partners.
On Monday, Brazil’s Foreign Minister, Celso Amorim, threatened to challenge the legality of the clause at the World Trade Organization (WTO).
“It’s a complex legal analysis, but we’re doing it,” Mr Amorim told state television. “[Going to the WTO] is a real option,” he added.
The approved plan stipulates that public works and building projects funded by the stimulus use only US-made goods, including iron and steel.
Tags : Barack Obama, US President
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February 21st, 2009 at 10:21 am
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