Topic 31

US Federal Budget Passes

Bethany Klein



The bill, passed on October 21st, controls about one-third of the $1.7 trillion federal budget for fiscal 1999. It includes 10 Cabinet-level departments, including Education and Interior, plus many smaller agencies, foreign aid and the District of Columbia's budget.

*Note:  Almost half of the on-topic Mandarin stories focuses on fiancing $18 billion for IMF (International Monetary Fund), which is one part of the inclusive federal budget bill. Its purpose is to help other countries to solve financial crisis.



Timeline:

10.14.98: Budget talks end without a deal.

10.15.98: White house and congressional negotiators meet to work out final details of the $500 billion budget plan.

10.16.98: Budget deal is agreed upon, completed and ready to go to congress.

10.20.98: The House votes 333-95 to approve the deal's $520 billion omnibus spending package.

10.21.98: The Senate approves the package on a 65-29 vote. Just hours later President Bill Clinton signs the $520 billion omnibus spending package for fiscal 1999.



Fun Federal Budget Facts:

*The budget deal package, reported to be 4,000 pages long and 16 inches thick, was so immense that few had the opportunity to fully read it.

*The 40-pound bill will finance dozens of agencies and includes billions of dollars for financially ailing farmers and the Pentagon, $1.2 billion to begin hiring more school teachers, $18 billion for the International Monetary Fund, tax breaks for some businesses and families, and provisions aimed at boosting anti-drug law enforcement efforts. There also is emergency money for boosting security for U.S. embassies around the world.



URLs of Interest:

http://www.cnn.com/ALLPOLITICS/stories/1998/10/21/budget/

http://www.house.gov/rules/96-912.htm



kleinb@ldc.upenn.edu