Obama economic plan now tops $900 billion

[Turborama]

Source: AP

By ANDREW TAYLOR, Associated Press Writer – 2 hrs 1 min ago

WASHINGTON – The cost of President Barack Obama's economic recovery plan is now above $900 billion after the Senate added money for medical research and tax breaks for car purchases.

It could go higher Wednesday if a tax break for homebuyers is made more generous, even as centrists in both parties promise to clear away spending items that won't jump-start the economy right away.

In an interview on CNN, Obama signaled a willingness to drop items that "may not really stimulate the economy right now." He also signaled he'll try to remove "buy American" provisions in the legislation to avoid a possible trade war.

In a victory for auto manufacturers and dealers, Sen. Barbara Mikulski, D-Md., won a 71-26 vote to allow most car buyers to claim an income tax deduction for sales taxes paid on new autos and interest payments on car loans. The break would cost $11 billion over the coming decade but could mean savings of $1,500 on a $25,000 car.

Read more: http://news.yahoo.com/s/ap/20090204/ap_on_go_co/congress_stimulus

[democracy1st]

1. centrists what a freakin joke ! thanks for posting turborama