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US Senate slogs towards stimulus vote
2009-02-05
WASHINGTON (AFP) - Despite President Barack Obama's warning that "the time for talk is over," US senators have agreed to carry on their bitter debate on a huge economic stimulus plan overnight if necessary. Obama, looking for a big legislative win in his second full week in office, warned of economic "catastrophe" if lawmakers turned away a package blending tax cuts and spending for a total price tag now above 900 billion dollars. But just hours after declaring Democrats had the 60 votes needed to overrun stiff Republican opposition and pass the legislation, Democratic Senate Majority Leader Harry Reid said the debate would run dusk-to-dawn if needed. On skittish capital markets and "around the world, everyone is looking at what we're going to do here tonight," Reid said as the fourth day of Senate debate wound down. "If necessary we will work through the night." "I agree with the majority leader. I think we ought to continue talking here," said Republican Minority Leader Mitch McConnell, who has sharply assailed Obama's plan as bloated and lacking sufficient tax cuts. The unusual agreement came as a group of moderate Senators from both parties met behind closed doors to thrash out a possible compromise, thought to include plans to cut roughly 50-80 billion dollars from the package. "I would be happy to take a look at this and if it's in keeping with what I believe everyone is trying to do -- that is, to improve this legislation -- of course we'll take a look at it, a good positive look at it," said Reid. But top Democrats also indicated throughout the day that they would not accept deep cuts, and Reid had declared earlier that: "We hope to have a vote today. Do we have the votes? We believe we do." "Those who are talking about cutting massive amounts of money out of this bill are also cutting massive amounts of jobs," said his deputy, Senator Richard Durbin. "We need a handful of Republican senators to make it happen. That's the reality of the numbers," Durbin said, referrinng to the 60 votes needed to thwart any parliamentary delaying tactics. But "we'd rather pass a good bill with 65 votes than a bill that doesn't work with 80 votes," Democratic Senator Chuck Schumer warned after official data painted the bleakest job picture in at least 26 years. With Obama's mid-February deadline around the corner, Democrats piled pressure on Republicans to join them, a hard sell after not one Republican voted "aye" last week when the House of Representatives approved its version. Republicans stuck to their guns, charging that the measure had too much spending and too few tax cuts and that they had been shut out of the legislative process -- but Democrats showed no patience with their arguments. Durbin warned that too little spending now would mean more spending later: "If we're going to toss a teacup of water on this fire today, we'll be back with firetrucks in months to come." Obama also ramped up public pressure tactics, rejecting what he described as Republican overreliance on tax cuts and warning squabbling lawmakers that "the time for talk is over." "We know that if we do not act, a bad situation will become dramatically worse," he said. "The crisis could turn into a catastrophe for families and businesses across the country and I refuse to let that happen." Senate passage would trigger a "conference" with the House to craft a compromise between their rival bills, followed by a new round of voting in each chamber to send the final legislation to Obama's desk. Durbin also bluntly defended the Senate's votes late Wednesday to dilute but not remove a "Buy American" clause in a massive economic stimulus plan, saying US dollars should create US jobs. The stimulus package "is really not to create jobs in the European Union," said Durbin. Major US trading partners including Europe and Canada have denounced the measure, while some experts warn it could spark a trade war and others warn that it could affect any products with even one component that is not US-made. The original clause barred stimulus spending on a project unless all of the iron, steel and manufactured goods involved are made in the United States. The diluted language says the provision must be applied in keeping with US treaty obligations.
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