Bush signs spending bill, including $25B for automakers

President George W. Bush today signed a sprawling, $630-billion-plus stopgap spending bill that will keep the government running for the next 12 months and, among other things, provide automakers with $25 billion in taxpayer-subsidized loans.

The huge bill, approved by the House and the Senate last week, has been overshadowed by the financial crisis gripping the country.

The bill is dominated by a record $488 billion for the Pentagon, $40 billion for the Homeland Security Department and $73 billion for veterans’ programs and military base construction projects. It also lifts a quarter-century ban on oil drilling off the Atlantic and Pacific coasts.

The administration won approval of the military budget while Democrats wrested concessions from the White House on disaster aid, heating subsidies for the poor and smaller spending items.

Source:Freep.com