–Senate Approved Package With 3 Regular FY’12 Spending Bills
–Bill Increased Size of FHA Insured Mortgages To $729,750
–Package Includes Another Stop-Gap Funding Government Until Dec. 16
By John Shaw
WASHINGTON (MNI) – The Senate, followed the House, and passed
Thursday the first spending bill package for the 2012 fiscal year.
The Senate approved the package on a 70 to 30 vote, sending it to
President Obama for his signature.
The bill combines three of the regular FY’12 spending bills —
Agriculture, Commerce-Justice-Science, and Transportation-HUD — into a
$128 billion package.
The package also includes another stop-gap spending bill that
funds the federal government until Dec. 16 as work continues on the nine
remaining spending bills.
The 2012 fiscal year began on Oct. 1. The federal government is
running on a stop-gap spending bill that extends until Friday. No final
version of a regular FY’12 appropriations bill has yet been passed.
The House approved the same bill hours earlier Thursday on a 298 to
121 vote.
House Majority Leader Eric Cantor said this week that he hopes this
stop-gap funding bill is the last one needed for this year.
The spending bill package includes some policy riders, including a
provision that would increase the limit on the size of mortgages insured
by the FHA from $625,000 to $729,750.
** Market News International Washington Bureau: (202) 371-2121 **
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