House Passes $55b Spending Bill for Transportation & Housing in 2016
June 10, 2015
In a 216-210 vote, the U.S. House of Representatives passed a $55.3 billion spending bill for 2016 to fund transportation and housing projects.
• In a 216-210 vote, the U.S. House of Representatives passed a $55.3 billion spending bill for 2016 to fund transportation and housing projects. The vote came after rejecting amendments that would have increased funding for Amtrak and the D.C. Metro, as well as done away with a provision restricting travel to Cuba. Also, this bill was passed after the White House threatened to veto the legislation earlier in the week because of insufficient funding levels and controversial policy riders that would undermine the President’s policy to normalize relations with Cuba, undo trucking regulations, and block funds for the transfer of detainees at Guantanamo Bay prison to the U.S. [The Hill]
Economic Indicators & News
• Energy-rich states North Dakota and Texas had the strongest economic growth in 2014. North Dakota’s gross domestic product expanded 6.3%, while Texas’s grew by 5.2%. Growth rates were more twice as strong as the nation’s overall 2.2% expansion. Two state economies shrank last year: Mississippi’s by 1.2% and Alaska’s by 1.3%. [WSJ]
• Africa is creating its largest free-trade zone, stretching across 26 countries from Cape Town to Cairo. The deal, known as the Tripartite Free Trade Area, is intended to ease movement of goods across member countries and boost intra-African trade. TFTA will be unveiled officially at the upcoming summit of the African Union this weekend. [BBC]