U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012.  REUTERS/Shamil Zhumatov  (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

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Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012.  REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

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FACTBOX: Highlights of $447 billion House spending bill

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Thu Dec 10, 2009 6:06pm EST

(Reuters) - The House of Representatives on Thursday approved a $447 billion spending bill that would increase funding for dozens of U.S. government agencies in the 2010 fiscal year, which ends next September 30.

The bill now goes to the Senate, which must pass it by December 18 or extend a temporary measure to keep the federal government running. No Republicans voted for the bill.

Following are details on some items in the legislation.

* $1.11 billion, a 14 percent boost, to allow the Securities and Exchange Commission to hire 420 workers to oversee investments and financial markets. The agency has faced questions about its effectiveness after it failed to catch a $65 billion scheme perpetrated by Bernard Madoff.

* $824 million for the Small Business Administration, a 26 percent increase, to support new lending to small businesses. Further efforts to encourage small-business growth could pass Congress in the coming weeks as part of an effort to bring down U.S. unemployment, which stands at 10 percent nationally.

* Requires General Motors Co and Chrysler to submit to binding arbitration to determine whether auto dealerships they have tried to close should be reopened.

* A 50 percent increase to fight fraud in entitlement programs such as Social Security and Medicare. Lawmakers say this could save $48 billion over the next 10 years.

* $2.5 billion for high-speed rail intercity rail projects, on top of $8 billion signed into law earlier this year as part of the economic stimulus bill.

* No money for an infrastructure bank requested by the Obama administration to finance large-scale transportation projects. Lawmakers said the $5 billion project was too complex to handle through a spending bill.

* Reduces economic, governance and security aid to Iraq by 30 percent; keeps levels to Pakistan and Afghanistan roughly the same.

* Prevents the government from doing business with U.S. companies that have moved headquarters overseas to reduce their tax bills.

* Prevents the Export-Import Bank from providing loans to oil companies that do business with Iran.

* Limits U.S. participation in an International Monetary Fund program designed to prevent future financial crises to 20 percent of the total. It requires the United States to oppose allowing nations that have supported terrorism to withdraw hard currency like U.S. dollars or euros from the IMF.

* Eases a ban on federal funding for needle-exchange programs for drug addicts. The new guidelines would allow local health or law enforcement officials to block funding for programs in locations they deem inappropriate.

* Lifts a restriction that prevents Washington, D.C. from using public money to pay for abortions. Also would allow Washington residents to vote on a medical marijuana referendum, which has been blocked in Congress since 1999.

(Reporting by Andy Sullivan)

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Comments (3)
American.I.Am wrote:
Some of these are warranted; some are not not. You want businesses to stop moving overseas? Quit taxing them to high heaven!
Take a look at California for a great example of how taxes can cause a mass exodus of industries (you know, those things that create jobs).

Dec 10, 2009 7:30pm EST  --  Report as abuse
moebadderman wrote:
“American.I.Am” wrote about industries as “those things that create jobs”, but neglected to mention where those jobs are created — you know, China and India.

Dec 10, 2009 7:53pm EST  --  Report as abuse
tmirdotorg wrote:
My only request to dirty politicians bring the fiscal responsibility. I think, the country is digging very deep hole. don’t listen to special interest groups. listen to knowledge and situation.

Dec 10, 2009 8:07pm EST  --  Report as abuse
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