January 28, 2009 / 6:22 AM / 11 years ago

FACTBOX: Economic stimulus bill moves through Congress

(Reuters) - A massive economic stimulus bill is winding its way through the U.S. Congress, pushed by Democratic leaders who want to present President Barack Obama with legislation he can sign by mid-February.

Here is the status of the $825 billion bill, which aims to jump-start an economy in recession since December 2007:

APPROVED IN COMMITTEES:

* $365.6 billion: The Senate Appropriations Committee approved its part of the huge spending bill — $365.6 billion for construction projects, to improve the health care system and other priorities. The Senate Finance Committee was working on the tax-cut portion. It added $70 billion to the cost of the overall bill when it voted a one-year fix of the Alternative Minimum Tax to shield middle-class taxpayers from paying higher taxes than wealthy Americans.

* $358 billion: The House Appropriations Committee approved its version of the major spending portion of the package, which also includes a boost in the federal investment in education and an expansion of food aid programs. No Republican on the panel voted for the bill.

* $367 billion: The House Ways and Means Committee approved a second part of the stimulus bill. The $367 billion includes (figures rounded up):

- $275 billion in temporary tax cuts for workers, tax incentives to produce renewable energy, and breaks for builders and other companies that would be allowed to write off current losses against five previous tax years.

- $48 billion to help unemployed people keep their health insurance and to invest in health information technology.

- $46 billion for expanded unemployment benefits and aid to needy families and child support.

This measure also was approved on a partisan vote.

* $100 billion: The House Energy and Commerce Committee approved a third component that includes money to improve broadband Internet access, invest more in clean energy and energy efficiency. It also has about $87 billion to help states pay increasing Medicaid health insurance costs for the poor.

STILL TO COME:

* A vote by the full House to pass the Democratic bill could come as early as Wednesday.

* A Senate vote on passage is likely next week. But first, Republicans will try to amend the bill, possibly to include more tax cuts and less spending. Obama says he’s open to their suggestions.

* Once both chambers pass bills, House and Senate negotiators would then meet to work out differences.

* Democrats hope final votes on one bill would be held by mid-February, with Obama signing it into law promptly.

Compiled by Richard Cowan; Editing by Cynthia Osterman

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