House passes stimulus package that would increase state Medicaid funding
While the House Friday passed its $60.8 billion stimulus bill, the Senate on Friday failed to pass its iteration, which would have given $19.6 billion in additional funds to state Medicaid programs. Still, even if the Senate approves the House bill, it may not pass. President Bush has vowed to veto the bills, saying they would do nothing to spur the economy and would only increase government spending.
Meanwhile, as of press time, the House failed to pass a $700 billion bailout package for the crippled financial sector. The House stimulus bill could actually become a "bargaining chip" between Congress and the president in negotiations over the bailout package, according to The New York Times.