The U.S. Senate has approved an $838 billion economic
stimulus plan that the Obama administration says will create millions of new
jobs and help lead the economy out of a recession.
Three Republicans joined majority Democrats to approve the package of new
government spending and tax cuts by a vote of 61 to 37 on Tuesday.
President Obama welcomed the vote during a town hall meeting in (the
southeastern state of) Florida. He called the bill's passage "a good
start," but cautioned there is still more work to do.
The House and Senate must craft a compromise deal before it can be signed into
law by the president. Both Democrats and the president want the bill signed by
February 16th, before Congress takes a break.
In a separate effort to revive the economy, U.S. Treasury Secretary Timothy
Geithner on Tuesday unveiled plans to use up to $2 trillion to help the U.S.
banking system.