Dow Jones reports that Microsoft co-founder Paul Allen, owner of the NFL's Seattle Seahawks and the NBA's Portland Trailblazers, will reap a billion dollar tax cut from the economic stimulus bill:

The economic recovery package is essential for our nation's economy, for its infrastructure, and for our energy, health, and education needs - and now it's the law.

The President is off to Denver this morning, where he'll sign the American Recovery and Reinvestment Act into law.

The American Immigration Lawyers Association (AILA) is critical over the Economic Stimulus Bill inclusion of Sander H-1B Amendment making almost impossible to hire foreign workers.

Democrats secure House approval for stimulus package by 246 to 183 votes. Now the House passes the immense economic stimulus bill against Republican objection. This is a victory for President Obama. The nation is anxiously waiting for it to work.

The investors did not hear to the economic stimulus plan and Geithner's bank rescue plan. Realizing that the first bailout did not work investors send the stocks down Dow Jones Industrial Average ending the day at three months low. The Dow Jones industrial average lost 382 points, or 4.6 percent, according to early tallies. NASDAQ lost 63 points and S&P lost 42.73 points, losing 4.91 percent of its value.

In a move that did not receive major Republican support, the Senate has approved a $838 billion stimulus bill designed to aid in the economic recovery. The stimulus bill is heavy on spending and tax cuts. While although expensive, politicians believe it is the "right thing to do."

Wall Street Journal op-ed: Leave the New Deal in the History Books; Cut Corporate Taxes to Zero and Create Real Jobs, by Mark Levey.

Since Obama released the first draft of his economic stimulus plan last week many progressive-leaning figures among pundits, congress people and economists have pointed out that much bigger investments need to be made in infrastructure and the proposed tax cuts must be smaller or done away with.

It’s been busy few weeks for the Treasury Department. Since mid-December when we updated you last [1], the bailout kicked into a higher gear, doling out more than $30 billion in celebration of the season of giving (OK, investing [2]). Added to the tally were U.S. auto companies, financial firms like American Express, CIT, and GMAC.

Hoping to create jobs and bolster Medicaid health programs, Democrats in Congress want a slice of the economic stimulus bill to go to states.