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Stimulus Package In Works?

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The Associated Press

Published: October 12, 2008

WASHINGTON - After consulting with Barack Obama, Democratic leaders are likely to call Congress back to work after the election in hopes of passing legislation that would include extended jobless benefits, money for food stamps and possibly a tax rebate, officials said Saturday.

The bill's total cost could reach $150 billion, these officials said.

The officials stressed that no final decisions have been made. They spoke on condition of anonymity, saying they did not want to pre-empt a formal announcement. House Democrats have announced plans for an economic forum Monday "to help Congress develop an economic recovery plan that focuses on creating jobs and strengthening our economy."

Democrats said Obama's campaign has been involved in discussions on a possible stimulus package.

If Democrats are successful in capturing the White House and increasing their majorities in the House and Senate, a lame-duck session of Congress two weeks after the election would allow them to start work on a response to the credit crunch.

On the other hand, by attempting to pass legislation next month, Democrats would have to negotiate with President Bush, whose term runs until Jan. 20. Additionally, Senate Republicans, with 49 seats, could block any measure they opposed.
House Speaker Nancy Pelosi told reporters Wednesday that a $150 billion stimulus package is necessary and she may call the House back into session after the election.

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