BUSINESS

Democrats Scale Back Stimulus Plan

12/16/2008 05:12 am ET | Updated May 25, 2011

Congressional Democrats yesterday abandoned plans to offer a wide-ranging economic stimulus plan next week, putting off any chance that the federal government would provide a major jolt to the economy until after President-elect Barack Obama is sworn in Jan. 20.

Instead, Democrats have scaled back their proposal to a package that will include a $6 billion expansion of unemployment benefits and a $25 billion cash infusion for the struggling auto industry, setting up a confrontation with Senate Republicans over whether the government should expand its rescue program beyond the financial sector.

Read more on Washington Post

Suggest a correction