New York Times: Obama will not veto $50 billion stimulus bill

NEW YORK, NY—The president of the New York City metropolitan statistical agency said Wednesday he is not planning to veto a $50.5 billion stimulus package, which would fund a wide array of programs and projects, including a high-speed rail line to the New Jersey coast and an overhaul of the city’s subway system.

New York Mayor Bill de Blasio said in a statement Wednesday that Obama’s plan is “a big step forward for New York and New Jersey.”

The package includes money for more than 50 programs, including grants for job training and early childhood education, grants for low-income workers, and an expansion of affordable housing.

Obama has said he wants to make New York a “model” for other cities to emulate and is trying to help states, counties, and towns make the transition to a more cost-effective, more sustainable economy.