14 Oct 2008

Second US stimulus package wanted

7:38 am on 14 October 2008

Democrats in the US House of Representatives are pushing for a second economic stimulus package to stave off a recession in the United States.

They also say the US Treasury Department needs to use a recently approved $US700 billion bailout fund to purchase shares of troubled banks and more must be done to regulate the financial industry.

Speaker Nancy Pelosi (Democrat, California) said on Monday that hearings would be held in coming weeks to determine the size and shape of a proposed second package.

Democrats have discussed a proposal for about $US150 billion containing construction projects and federal aid to states and to the poor.