Stimulus Plan Could Pass By Mid-February: Hoyer

The number-two-ranked Democrat in the House Sunday said he hoped Congress could pass a massive financial stimulus package by early to mid-February.

Steny Hoyer, a Maryland Democrat who is House Majority Leader, said on Fox News Sunday that earlier hopes that a package could be ready for incoming President Barack Obama to sign on his Jan. 20 inauguration were over-optimistic.

On the Senate side, Majority Leader Harry Reid said any stimulus package must have bipartisan support.

He said Congress will move as quickly as possible on the package, but declined to predict when it will have one ready for Obama to sign into law. Congress will probably break to observe Presidents Day on Feb. 16.

Obama and Vice President-elect Joe Biden will huddle with Democratic and Republican congressional leaders Monday to try to advance the economic stimulus bill.

Leadership aides in Congress said the meeting is set to begin around 3 pm EST Monday. The discussions would be the first opportunity for the bipartisan leadership to meet with the president-elect and would cover other issues besides the economy, one aide said.

Meanwhile, Obama and Congressional Democrats are considering a major expansion of government-assisted health care insurance and unemployment benefits as part of a two-year economic recovery program, The New York Times reported in its Sunday editions.

Proposals included extending unemployment compensation to part-time workers, subsidizing employers who must continue health insurance benefits temporarily for laid-off and retired employees and allowing workers who lose jobs that did not include insurance to apply for Medicaid, the Times said.

The proposals would be included with other economic measures like ramping up spending on infrastructure and other public works projects meant to stimulate job growth, the Times said.

Democratic aides said the House is not expected to vote until next week at the earliest on any stimulus plan, with final action now unlikely before February, the newspaper reported.

Citing Obama advisers, the newspaper said the package, which could face resistance from Republicans and conservative Democrats, would cost at least $775 billion.

"This has really forced people to think outside the box," the Times quoted a House Appropriations Committee aide as saying, "because this is more money than anybody expected to be spending."

Obama is also likely to propose a tax credit of $500 for eligible individuals and $1,000 for couples, the newspaper said.

Those earning too little to pay federal income tax would receive a check meant to offset Social Security retirement and Medicare payroll taxes.

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