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Wednesday, June 30, 2010

U.S. Congress seeks education money in defense bill | Reuters

U.S. Congress seeks education money in defense bill | Reuters

U.S. Congress seeks education money in defense bill

WASHINGTON
Wed Jun 30, 2010 1:33pm EDT

June 30 (Reuters) - Democratic lawmakers have tucked $10 billion in funding for education jobs into a defense supplemental spending bill currently in the U.S. House of Representatives, according to legislative language released on Wednesday.

REGULATORY NEWS | BONDS

The move is an amendment to a spending bill to send extra money for the U.S. military to fight wars in Iraq and Afghanistan.

The $10 billion fund is a smaller version of the $23 billion allotment that failed in the Senate in May, when fiscal conservatives raised concerns about the federal deficit.

The fund will again face opposition from Republicans who are reluctant to appropriate money to schools for fear of adding to the country's deep debt.

States would allocate the money to elementary and secondary schools under existing formulas in order to save or create education jobs. They could not use the money for administration, building up reserves or retiring debt.

The economic stimulus plan passed last year included extra funds for schools in the hope of