The Senate is set to vote on President Barack Obama's stimulus package as soon as tonight as centrists and Republicans sought last minute spending cuts to reduce its size, which has grown to more than $900 billion.
The President urged Congress to act on Friday saying in a White House speech that it was inexcusable and irresponsible to delay on fixing the U.S. economy.
Harry Reid, Senate majority leader, predicted a vote would take place late Friday but Republican leaders asked for more changes for the bill to pass with significant bipartisan backing. They want to reduce the size of the bill and shift its focus from spending to tax cuts.
Republicans are ready to support a stimulus bill. But we will not support an aimless spending spree that masquerades as a stimulus. Putting another $1 trillion on the nation's credit card isn't something we should do lightly, said Mitch McConnell, Senate minority leader, according to the Financial Times.
Mr. Obama on Thursday night spoke out against the phony arguments and false theories of the past that Republicans were using to resist the stimulus.
We can't embrace the losing formula that says only tax cuts will work for every problem we face, Obama said Thursday night at a retreat for House Democrats, according to MarketWatch.
Once the Senate passes its bill it will have to be reconciled with the House version before sending it to the White House.