Congress works to craft economic stimulus package by presidential inauguration

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Obama opens the door for drastic new Medicare, Medicaid cuts for nursing homes
Obama opens the door for drastic new Medicare, Medicaid cuts for nursing homes
Members of Congress could vote on an economic stimulus package as early as this week. Lawmakers have been laboring to prepare a package by Jan. 20, when President-Elect Barack Obama takes office.

The package is expected to pass in the House, while Republican support is seen as crucial for the measure to pass in the Senate. The bill could land on the floor of the House by Thursday and on the Senate floor by next Tuesday. The bill may contain between $50 billion and $70 billion in Medicaid funding.

In related news, President-elect Barack Obama seeks to create or save three million jobs as part of his economic stimulus package. Jobs may include installation of information technology in medical facilities. He also reportedly might propose subsidies to train more nurses to create jobs and address the shortage.