Obama hits Washington to sell stimulus package

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} US President-elect Barack Obama heads to Capitol Hill today to meet Congressional leaders in an attempt to fast-track his plans for a multi-billion dollar stimulus package.   US media reports say the package could be worth more than $800 billion, including $300 billion of tax breaks. ObamaÔÇÖs intention has been for Congress to study the plan early so it can be enacted as soon as possible after his inauguration on 20 January, but his spokesman Robert Gibbs conceded last night that this was beginning to look ÔÇ£very, very unlikely.ÔÇØ   Obama has dubbed the package the American Recovery and Reinvestment Plan but has not put a price tag on it himself.   ObamaÔÇÖs keenness for action is no secret. He has repeatedly said he wants a stimulus plan that will create three million jobs by 2011, and that he wants it in place quickly. "Economists from across the political spectrum agree that if we don't act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment and the American dream slipping further and further out of reach," he said in his Saturday radio and YouTube address.   He is due to meet House and Senate Democratic leaders today, and also with a bipartisan group of key lawmakers, but Gibbs admitted, "we don't anticipate that Congress will have passed, both houses, an economic recovery agreement by the time the inauguration takes place."   Congressional spokesmen have been warning that legislation may not be ready until mid-February at the earliest. House Majority Leader Steny Hoyer of Maryland said Sunday, however, that he wants the House to approve the plan by the end of the month, sending it to the Senate in time for action before Congress leaves on its mid-February break.   The package is expected to include tax cuts of $500 to $1,000 for people earning less than $200,000 a year, as well as tax credits for companies taking on additional staff. There could also be around $200 billion to help revenue-starved states pay for health care programs for the poor.   A central part of the plan will also be infrastructure projects, blending road and bridge repairs with new programs to advance energy efficiency and rebuild health care information technology systems.     *┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *