House approves economic stimulus bill

January 28, 2009 3:14:05 PM PST
The Democratic-controlled House has approved an $819 billion economic stimulus package critical to President Barack Obama's plan to revive the economy. [CHECK THE MARKETS: Get the latest numbers from Wall Street]
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The House vote came after days of intense lobbying by the new president, including personal appeals to congressional Republicans. GOP lawmakers spurned Obama, saying the bill contains too much spending and not enough tax cuts.

Democrats argued that the bill was imperative with the economy in the worst shape since the Depression.

The legislation includes an estimated $544 in federal spending and $275 billion in tax cuts for individuals and businesses. It includes money for highway construction and mass transit.

The Senate is working on a costlier version of the bill.

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