President Barack Obama has hailed the approval of an $838 billion (£572bn) economic stimulus package despite little Republican backing.

Speaking in Fort Myers, Florida, after an aide passed him a note informing him of the US Senate's vote, Mr Obama said: "That's good news."

He added: "I want to thank of all the members of the Senate who have moved the process forward.

"We've still got to get the House bill and the Senate bill to match up before it gets sent to my desk, so we have a little more work to do over the next couple of days.

"It's a good start."

With little Republican support, the Democratic-controlled Senate voted 61-37 to approve the package of tax breaks and public spending projects.

It differs significantly from the $819 billion (564bn) measure the House of Representatives passed almost two weeks ago.

Although a version of the plan had now been passed by both houses in Congress, the package still faces a battle before it can be signed off by the President.

Difference between the two bills will have to be reconciled, with Republican senators unlikely to be willing to give up the concessions they have won in negotiation.

But the fact that it has passed will mean that Mr Obama is on course to sign off on the bill by President's Day next Monday, as he has previously expressed a desire to do.

Meanwhile, there was more bad news for the US as General Motors announced it is slashing 10,000 jobs globally, mostly by May, and imposing pay cuts of 3-10 per cent for its white-collar workers.

As the car industry continues to suffer, GM said around 3,400 of the job cuts will hit its 29,500 US workers.

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