–House Passes $1.1 Trillion Stop-Gap Bill On 212 to 206 Vote
–Senate Republicans Signal Opposition To Year-Long Stop Gap Bill
–The Current Stop-Gap Spending Bill Extends Until Dec. 18

By John Shaw

WASHINGTON (MNI) – The House approved Wednesday a stop-gap spending
bill that would fund the federal government for the rest of the 2011
fiscal year.

The $1.1 trillion bill was approved on a 212-to-206 vote. No
Republican supported the bill and 35 House Democrats also voted against
the measure.

The bill now goes to the Senate where it faces an uncertain fate.

Several Senate Republicans have said they prefer a stop-gap bill
that only runs until February. This would give the GOP a chance to cut
back spending in the new Congress in which there will be six more
Republicans in the Senate and a substantial Republican majority in the
House.

The current stop-gap spending bill extends until Dec. 18. None of
the 12 regular spending bills have been yet passed by Congress for the
fiscal year that began Oct. 1.

The stop-gap bill would fund the federal government in FY’11 at the
same level as FY’10. It shifts some funds around. For example, the bill
includes $513 billion for defense, which is about $5 billion more than
in FY’10. It also includes $159 billion for funding the wars in Iraq and
Afghanistan.

The bill also includes $5.7 billion in additional funds for Pell
grants and more than $500 million for a new education program that
President Obama has touted, the Race to the Top program.

The stop-gap bill includes no earmarks and freezes federal pay,
except for the military, for two years.

The bill also includes food safety legislation.

Congress’s work on the FY’11 spending bill has been far less
noticed than the unfolding battle over tax legislation.

Vice President Biden met with congressional Democrats Wednesday
evening to discuss the $900 billion tax and spending package that
President Obama negotiated with Republican leaders.

Several Democrats said that Biden argued the agreement included key
items the administration and congressional Democrats sought. He also
told them that the agreement was largely locked into stone and would not
be changed in any significant way.

The Senate could take up the package as early as Thursday.

** Market News International Washington Bureau: (202) 371-2121 **

[TOPICS: M$U$$$,MFU$$$,MCU$$$]