Senate Passes Economic Stimulus Bill

Today in a 61-37 vote, the Senate passed the Nelson-Collins substitute to the American Recovery and Reinvestment Act of 2009.

Only three Republicans voted for the bill. The differences in the House and Senate versions must now be reconciled in a conference committee. President Obama is urging to send him a bill before the Presidents’ Day recess that officially begins Friday. CNN outlined the various differences between the House and Senate bills: the Senate bill, unlike the House version, would make the first $2,400 of unemployment benefits tax free. Both the Senate and House bills extend the time that jobless workers can collect benefits. Also, the Senate bill has an amendment that would let those who buy a car in 2009 deduct the interest they pay on their car loan as well as the sales tax charged in the purchase. The House bill ignores this provision. The news comes as President Obama is conducting a Town Hall in Ft. Myers, Florida. He traveled to Florida with several Democratic members of the Florida congressional delegation. He also joked that no Republicans would come with him.