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| Version 2 | Version 3 |
|---|---|
| Obama set to sign stimulus plan | Obama set to sign stimulus plan |
| (about 2 hours later) | |
| 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. | 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. |
| The unusual ceremony is being held at a Denver museum, away from the partisan tensions still gripping 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. | 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. | 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 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. | The approved version of the plan is split into 36% for tax cuts and 64% percent in spending and money for social programmes. |
| STIMULUS PACKAGE $240bn in tax breaks for individuals and businesses$140bn for health care$100bn for education$48bn for transportation projects Source: Associated Press Battle exposes partisan rifts class="" href="http://newsforums.bbc.co.uk/nol/thread.jspa?forumID=6061&edition=1&ttl=20090214065742">Send us your comments | |
| Protectionism | Protectionism |
| The bill also includes a controversial "Buy American" provision that, despite being watered down, has angered US trading partners. | 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). | 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. | "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. | The approved plan stipulates that public works and building projects funded by the stimulus use only US-made goods, including iron and steel. |
| The EU and Canada had earlier said that provisions favouring American-produced materials for government projects risked provoking retaliatory protectionist measures. | The EU and Canada had earlier said that provisions favouring American-produced materials for government projects risked provoking retaliatory protectionist measures. |
| Earlier this month, Brazil's President Luiz Inacio Lula da Silva told the BBC that in the good years, the rich countries had talked a lot about free trade and the market. | Earlier this month, Brazil's President Luiz Inacio Lula da Silva told the BBC that in the good years, the rich countries had talked a lot about free trade and the market. |
| Now they had created a crisis they shouldn't turn to the protectionism which had so often held the world back, President Lula said. | Now they had created a crisis they shouldn't turn to the protectionism which had so often held the world back, President Lula said. |