Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
US lawmakers in narrow $1tn spending deal (Megan Murphy, Financial Times) The U.S. House of Representatives passed the omnibus appropriations bill that will fund most government operations through the end of the fiscal year 2015 (30 September 2015). The vote was closer than had been expected earlier in the week, 219-206. The major appropriation that was given only temporary funding (through February) was the Department of Homeland Security. Republicans are hoping to be able to curtail immigration reform actions initiated by the president through executive order as a part of completing that part of the appropriations for 2015.
Some of the expected Democratic support for the bill was withdrawn when Republicans made modifications that overturned some provisions of the Dodd-Frank Act which had limited the trading of derivatives by banks. Some members of both parties withdrew support when the limits on political donations by individuals was opened up to a maximum of $324,000. The final vote had 167 Republicans and 57 Democrats voting "Yea" and 67 Republicans and 139 Democrats voting "Nay". The Senate will take its final vote within days. President Obama has already indicated he will sign the bill into law. See What’s in the spending bill? We skim it so you don’t have to (Ed O'Keefe, The Washington Post) for more details on the package that was passed.
In Its Defense, The U.S. Is 'Awesome' (Mauro Whiteman, National Journal) Our inspirational patriotic offering of the day to proud Americans (and its many admirers around the world).
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