Friday, July 25, 2014   

The ayes have it for US$1 trillion spending bill
(01-16 10:24)

The US House of Representatives on Wednesday overwhelmingly approved a US$1.1 trillion spending bill for fiscal year 2014, capping months-long negotiations and marking a truce in three years of fiscal battles plaguing Washington.
The measure, which funds federal government under the budget framework hammered out by Democrats and Republicans last month, passed 359-67, in a strong show of bipartisanship that belies the intense bickering that has marked recent debates over funding the government.
It now heads to the Senate, where it is expected to pass this week before being signed into law by President Barack Obama.
It also eliminates the threat of a government shutdown this month, similar to the one that paralyzed Washington for 16 days in October when Congress failed to agree on a budget.
And with nearly three-quarters of Republicans voting for the bill, it marks a rejection of the faction of Tea Party conservatives and activists staunchly opposed to virtually any increased spending.
Groups like Heritage Action, the political arm of the conservative Heritage Foundation think-tank, urged lawmakers to oppose the bill for blowing past spending levels set by the Budget Control Act of 2011.—AFP

   
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Hang Seng up at mid-day (07-24 12:26)
Japan trade deficit expands further (07-24 11:38)
SKorea to launch US$40b stimulus package (07-24 11:18)
Nikkei up by break (07-24 11:09)
China factory activity jumps to 18-month high: survey (07-24 10:53)

More breaking news >>

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