CQ TODAY MIDDAY UPDATE
Jan. 8, 2009 – 1:43 p.m.
Questions, Committee Action May Slow Stimulus Package
House Speaker Nancy Pelosi said Thursday that Congress will not recess for the mid-February Presidents’ Day break if an economic stimulus package hasn’t cleared by then.
“We can’t go home without an economic recovery package and we won’t,” she said, as President-elect Barack Obama presssed for quick action in a speech designed to rally public support for roughly $775 billion in new spending and tax cuts.
Pelosi, D-Calif., said the legislation will be moved through regular order, with markups and a House-Senate conference meeting.
Markups in at least the House Appropriations and Ways and Means committees are likely the week of Jan. 19, with the bill coming to the floor the following week, her spokesman said. Pelosi said she wants the package through the House by the end of January and that the Senate will work on its own version with the hope that a conference agreement can be reached and the legislation cleared by mid-February.
In the Senate, meanwhile, Obama’s advisers were expected to face skeptical questions from Democrats at a meeting later with all members of the majority party.
Emerging from a bipartisan, closed-door morning meeting of the Senate Finance Committee, members voiced concerns about finding the right mix of tax breaks and infrastructure spending.
They were especially skeptical about the specific business tax breaks Obama is reportedly seeking.
“The key here is to create jobs. The key here is to restore confidence in the economy. And what I want to do, and I think others are concluding, is to make certain that every provision that we’re looking at can really be measured against the creation of jobs,” Sen. John Kerry , D-Mass., said.
Olympia J. Snowe of Maine, a key Republican moderate on the committee, said that while there is broad support for a stimulus package, members of both parties are “grappling with what should be the mix.”




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