On Capitol Hill, the Bush administration and Democratic leaders are said to be close to agreeing on a $150 billion economic stimulus deal. Most of the money would go towards tax rebates. Republicans are reportedly opposing proposals to include low-income Americans not paying income tax in the rebate package. At the White House, President Bush said current economic woes should encourage Congress to pass through several pending trade deals.

President Bush: “One way we can also send a message that we want to continue to grow is to open up markets for U.S. products and services. We were talking about these trade votes coming up in front of Congress, and the importance of getting markets opened up for our workers and entrepreneurs.”