President Barack Obama plans to sign the $787 billion economic stimulus package, passed Friday by the House and Senate, during a visit to Denver on Tuesday, CNN first reported. Obama wants to get out of the nation’s capital and sign the bill “out west in an area hit hard economically, away from the politics of Washington,” a senior administration official told CNN.
Another official told CNN that Denver was picked for the historic signing because it is “a place that will see the benefits of the bill in hiring workers.”
Obama will sign the bill, formally known as the American Recovery and Reinvestment Act of 2009, at a mid-day, invitation-only ceremony at the Denver Museum of Nature and Science, The Denver Post reports.
In his weekly radio and Internet address, Obama hailed the stimulus bill — which passed with the support of only three Republican senators and not a single GOP House member — as a “major milestone on our road to recovery. “
Last week, officials announced Obama would visit Denver “to convince Americans his economic stimulus plan will get the job done.” The president also plans to stop at a “work site at which Obama can tout green energy components” of the stimulus package, the Post reported on Thursday. It’s unknown whether Obama still plans any stops in Colorado in addition to the bill signing ceremony.
On Wednesday in Phoenix, Obama plans to unveil an initiative to combat the nation’s housing crisis. The president will announce plans to spend “at least $50 billion” to “provide financial relief to Americans on the verge of losing their homes to foreclosure,” the Arizona Republic reports. The Phoenix metro area has been among the hardest hit by foreclosures.
Here’s Obama’s weekly address, distributed Saturday. He celebrates the passage of the American Recovery and Reinvestment Act and tells Americans the stimulus bill is only the first step toward recovery.
Obama accepted the 2008 Democratic nomination for president Aug. 28 in Denver before 84,000 spectators at Invesco Field. Watch a slideshow of Obama’s acceptance speech from The Colorado Independent’s Bob Spencer.