Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Senate to vote on $26 billion in aid for desperate states

By Tami Luhby, senior writer


NEW YORK (CNNMoney.com) -- Senate Democrats are once again trying to push through a bill that would send $26 billion to needy states.

The measure contains $16 billion in additional Medicaid money and $10 billion in education funding to prevent teacher layoffs. State officials have been desperately lobbying their representatives, saying they need the money to shore up their budgets. President Obama weighed in Monday, asking lawmakers to pass the bill.

Lawmakers will take a procedural vote on Wednesday. It needs 60 votes to pass, meaning some Republicans would have to cross the aisle. If it passes this hurdle, a final vote could come late in the week, just before the Senate is scheduled to recess for the long August break.

Senate Majority Leader Harry Reid, D-Nev., had pushed back the vote by two days to amend the legislation after learning it would increase the deficit by $4.9 billion despite offset measures. The amended bill has no impact on the deficit.

The GOP, however, is not taking kindly to sending more aid to the states, saying the original $787 billion stimulus package was meant to do that. To top of page

Search for Jobs

Index Last Change % Change
Dow 20,821.76 11.44 0.05%
Nasdaq 5,845.31 9.80 0.17%
S&P 500 2,367.34 3.53 0.15%
Treasuries 2.32 -0.07 -2.97%
Data as of 11:54am ET
Company Price Change % Change
Bank of America Corp... 24.23 -0.35 -1.42%
Spectra Energy Corp 40.68 -0.32 -0.78%
Chesapeake Energy Co... 5.66 -0.09 -1.57%
Hewlett Packard Ente... 22.96 -1.70 -6.89%
Ford Motor Co 12.47 -0.09 -0.72%
Data as of Feb 24
Sponsors

Sections

Baltimore Orioles executive John Angelos said he would want President Trump to apologize for all the offensive comments he's made before he's invited to throw out the first pitch at Camden Yards. More

A draft of the House Republicans' bill to repeal Obamacare would replace its subsidies with less generous tax credits, increase the amount insurers could charge older Americans and effectively eliminate Medicaid for low-income adults. More

Data Refuge collects federal data about climate change in order to preserve the information and keep it publicly accessible. More