U.S. House Passes Budget Bill

By: Associated Press Email
By: Associated Press Email

Treasury Secretary Timothy Geithner (GYT'-nur) is expressing hope that Democrats and Republicans will find a way to cut spending and reduce long-term deficits.

The House wrapped up business for Presidents Day weekend early
this morning, with Republicans pushing through a bill that would
cut $61 billion from hundreds of domestic programs, including
education, environmental protection and community services.

It also shelters coal companies, oil refiners and farmers from new
government regulations, while blocking money to implement President Barack Obama's health care law.

The bill goes next to the Senate, where Democrats are promising
to restore some of the spending and defend the health care law,
environmental policies and new efforts to overhaul regulation of
the financial services industry.

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