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Congress Passes $787 Billion Stimulus Plan

WASHINGTON (Reuters) – The U.S. Congress, handing President Barack Obama a major legislative victory, approved on Friday a $787 billion stimulus bill that aims to rush emergency government spending and tax cuts to a nation in the grip of a severe recession.

Obama is expected to sign the bill into law soon, fulfilling a pledge to try to reverse the economic slide with a recipe that includes middle-class tax cuts, money for construction projects, help for the poor and unemployed and new investments in alternative energy.