Nancy Pelosi pushing for $50 bn during second election-year

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Washington, Jul 18: House of Representatives Speaker Nancy Pelosi said on Thursday she is pushing for about $50 billion in a second election-year economic stimulus package being shaped by Democrats in Congress.

In January and February, the White House and congressional Republicans displayed rare bipartisanship when they worked to enact a $152 billion plan, mostly tax rebates, to stimulate the economy by trying to boost consumer spending.Leaders in the House and Senate are discussing with key committee chairmen another emergency spending bill that would again aim to spur the economy and help those hurt by the economic slowdown.

“I would hope that we could have about $50 billion,” Pelosi, a California Democrat, said in an interview on CNN.

“There are others who want more, but I think in these stimulus packages, you have to look at what helps stimulate the economy without spending more money than you should because you weight the economy down by going deeper into debt,” she said.

If a second economic stimulus bill advances and it follows the formula of emergency measures enacted this year, the new stimulus would add to already steep deficits that worry fiscal conservatives.

Pelosi told CNN she believes there are enough votes in the House and Senate to pass a new stimulus package. Democrats are not counting on support from President George W. Bush this time.