Deal reached on $827bn US stimulus package

US President Barack Obama on Saturday called on senators to complete passage of the $827bn stimulus package that was struck behind close doors late on Friday. US Senate Democrats agreed to cut their hopes for a larger economic stimulus package and support a compromise that would give Mr Obama an important but narrow victory.

Mr Obama said he was pleased that the bipartisan compromise, which may only result in the switched votes of three Republican senators, out of a total of 41, ended a turbulent week on a ”positive note”.

But he urged the upper chamber to accelerate its vote. It now seems likely that Congress will be unable to finalise a bill before the White House’s deadline of February 13. “Americans across the country are struggling and they’re watching to see if we’re equal to the task before us,” said the US president. “Let’s do whatever it takes to keep the promise of America alive in our time.”
Democrats said a vote on passage of the measure – drafted by leaders of a group of moderate lawmakers from both parties – and closely watched overseas as a sign of US commitment to help revive the world economy, would be held on Tuesday.