House passes $787 billion economic stimulus bill

The U.S. House of Representatives earlier this afternoon approved a $787 billion economic stimulus bill by a 246-183 vote.

While a final Senate vote is expected to come as early as tonight, it is interesting to note that, once again, no House Republicans voted in favor of the bill and seven Democrats voted against it. In the Senate, at least three Republicans will have to vote for the stimulus bill for it to pass.

And that will prove especially difficult given that, according to published reports, Sen. Edward Kennedy, D-Mass., will not be present for the final vote and will instead be in Florida as he continues his recovery from brain cancer.

The House and Senate originally passed different versions of the bill; the House passing an $820 billion stimulus package last month, the Senate passing an $838 billion version on Tuesday. The votes Friday are on the $787 billion compromise version of the measure agreed to by a conference committee of both houses.

The stimulus package, if it is approved this weekend, will land on President Barack Obama's desk by Presidents Day on Monday, as he had requested.

Keep checking this blog as news develops on the stimulus package. We will be watching the Senate vote tonight and will post again once the vote has been tallied.

For its impact on the AEC industry, check out The Obama Infrastructure Plan: A Supplement to PSMJ's 2009 AEC Firm U.S. Market Sector Forecast. Free with your order, you'll also receive PSMJ's Analysis of Economic Indicators for Markets Served by A/E Firms: 1st Quarter 2009. This report provides quantitative data on major market sectors AND the submarkets and regions that the North American A/E industry serves.

Ed