DAILY FISCAL POLICY REPORT -- May 23, 2008

Supplemental -- Senate OKs $250 Bn in War, Domestic Funds: Voting 70-26, the Senate approved a $165 billion amendment to a war supplemental funding bill that would fund the wars in Iraq and Afghanistan until a few months into the next president's term. The chamber also agreed (75-22) to include a package of domestic spending items including a $52 billion expansion of the GI bill, an $11 billion extension unemployment insurance benefits, and a host of other programs ranging from Gulf Coast reconstruction to emergency heating assistance. The $250 billion package would, by a large margin, set a new record for supplemental spending. Contracting -- House Adds Reform Measure to FY DoD Authorization: By a voice vote, the House has included as an amendment to the FY 2009 Defense Authorization bill (HR 5658) Rep. Henry Waxman's (D-CA) Clean Contracting Act. Waxman's amendment bundles a set of contracting reform measures, including language from HR 3033 to establish a database of contractors in violation of contracting rules and from HR 5712 to require contractors to disclose to the government instances of waste, fraud, and abuse of overseas contracts. Farm Bill -- How Laws Are Made, the Comedy: ... In which a clerical error results in the deletion of a 34-page section of a 673-page farm bill from a package sent to the president, with the House and Senate twice voting to overrule a bill twice vetoed by the president. Legislation ensues. House Speaker Nancy Pelosi (D-CA) laughed when asked to recount her initial reaction to the clerical error. "Uncustomarily crude," the Speaker replied, declining to reveal the expletive she uttered. Analysis of Snafu.
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