budget bill

GOVERNMENT SHUTDOWN AVERTED; PRESIDENT SIGNS CONTROVERSIAL BUDGET BILL

 

Update:  The Senate passed the spending bill tonight.  California Senator Barbara Boxer voted no; Senator Dianne Feinstein did not vote. President Barack Obama later signed the measure.

By Miriam Raftery

December 13, 2014 (Washington D.C.) –A spending bill with more pages than the epic novel War and Peace passed the House Thursday night.  If not approved by midnight tonight by the Senate, when government funding runs out, the government is set to shut down. 

But controversial provisions slipped in by House Republicans have outraged consumer advocates and many Democrats.These include provisions that would allow big banks to “gamble with taxpayer money,” by repealing key provisions of the Dodd Frank Act separating money in traditional FDIC insured bank accounts from trades, warns Senator Elizabeth Warren (D-Massachusetts).  Other controversial items would increase campaign donations to political parties by wealthy donors ten-fold, block money for implementing Medicare and Medicaid under the Affordable Care Act,  slash spending for education reforms and the Environmental Protection Agency, among other things.