Obama signs $787 bn economic stimulus bill into law

February 18th, 2009 - 6:27 am ICT by IANS  

Barack ObamaWashington, Feb 18 (Xinhua) US President Barack Obama Tuesday signed the the $787-billion economic stimulus bill into law in Denver, Colorado, calling it the first step to pave way for long-term growth.
The sweeping economic rescue package, the American Recovery and Reinvestment Act, is designed to jolt the ailing US economy by providing government spending and tax cuts for both individuals and businesses.

Obama signed the bill at the Denver Museum of Nature & Science. He will then take a tour of the museum’s installation of solar panels, according to a White House press release.

The president is underscoring investments the spending plan will make in the “green” energy-related jobs by signing the bill in Colorado, a state its governor Bill Ritter described on Tuesday as “the home of new energy economy,” news reports say.

At the same time, the White House is launching a website at www. recovery.gov, which is supposed to help people find out how federal dollars are being spent, the pace of scheduled construction projects and whether any federal dollars were being wasted.

Related Stories

    Posted in Uncategorized |