Debate over stimulus plan continues
WASHINGTON -- Debate over the economic stimulus bill continues in Washington today as some leading Republicans warn it could lead to disaster. The version of the bill that passed in the House had no Republican votes.
On Sunday, the ranking Republican on the Senate Banking Committee, Alabama Senator Richard Shelby, said the banking system needs to be addressed first.
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Shelby warned that until Americans' trust and investments return to the banking system, that the economy will continue to tank. The Obama administration's plan involves infrastructure spending, long-term energy projects and aid to cash-strapped state and local governments, which would be good news for numerous shovel-ready projects around the Capital Region, including a new Troy City Hall, rebuilding the Schenectady Amtrak station and millions of dollars of improvements for the Corning Preserve Amphitheater in Albany.
The nonpartisan Congressional Budget Office reported last week that the House bill is likely to create between 1.3 and 3.9 million jobs by the end of 2010.