Word: reided
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Congress, well-fed and self-satisfied, can catch its wind now. It has put together a $789 billion stimulus package to get the economy on the road again. The most interesting and obtuse comment about the new plan came from Senator Harry Reid, who said the legislation would create 3.5 million jobs...
...getting room service from the other end of Pennsylvania Avenue. After working around the clock for a week with 20 of her Senate colleagues on a compromise stimulus measure, Susan Collins had all but given up. But early on the evening of Feb. 6, Senate majority leader Harry Reid invited her to his office. "I debated whether it was worth going," Collins recalls. "I figured they were just going to put pressure on us to accept their previous offer," which didn't shrink the spending in the package as much as she had demanded. When she got there, however...
...Senate Democratic leadership was so anxious to declare victory that they ran to announce the news before their House counterparts had fully signed off. "The difference between the Senate and House versions were resolved," Senate majority leader Harry Reid told a throng of reporters on Wednesday afternoon. "The bills were really quite similar. And I'm pleased to announce that we've been able to bridge those differences." (Read "How to Know When the Economy Is Turning...
...buyers write off their interest payments was also reduced, to $2 billion from $11 billion. The bill does include a $70 billion annual Alternative Minimum Tax relief patch to prevent millions of middle-class Americans from getting penalized by a measure that was originally targeted at the rich. Reid on Wednesday boasted that the measure will cut taxes for 95% of workers, though the final agreement trimmed Obama's proposed tax rebates of $500 a year for individuals and $1,000 for families to $400 and $800, respectively...
...Senate majority leader Reid's spokesman Jim Manley said that while Reid supports the process Nelson is spearheading, there's a chance that some items that may fall out of the bill because of the compromise, such as the education provisions, could be reinserted in negotiations with the House over the final version. Nelson is aware of the risk but plans to fight tooth and nail to protect his deal. "The President wants bipartisan support," he noted. "And to get it, you have to maintain something comparable to what we're talking about...