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House passes $100 billion economic stimulus package

Sen. Daschle and Sen. Lott said they wanted to hold the bill below $75 billion last Sunday.

WASHINGTON (CNN) -- By a narrow margin, the House passed a $100 billion economic stimulus package Wednesday, setting up a possible showdown with the Senate, whose leaders have expressed support for a less-costly stimulus package.

The House bill, supported by the Republican leadership, passed on a vote of 216-214. It will cost $100 billion next year and $159 billion over 10 years. Seven Republicans voted with the Democrats against the measure, while three Democrats jumped ship to support it.

House Democrats criticized the bill for giving tax breaks to corporations while ignoring the needs of the thousands of people who lost their jobs after the September 11 terrorist attacks.

VIDEO The U.S. House of Representatives passed a $100 billion economic stimulus package. CNNfn's Tim O'Brien reports (October 25) Play video (QuickTime, Real or Windows Media)

On the other side of the Capitol, Senate Finance Committee Chairman Max Baucus, D-Montana, introduced a $70 billion stimulus bill this week that is split evenly between tax cuts and aid to the unemployed.

Both Senate Majority Leader Tom Daschle, D-South Dakota, and Senate Minority Leader Trent Lott, R-Mississippi, said last Sunday that they wanted to hold the size of the bill to between $65 billion and $75 billion, as administration officials have proposed.