A shake-up is under way on the congressional committees that oversee national security and defense just days after elections that did little to change the balance of power in the U.S. Senate and House.
The U.S. Defense Department and National Reconnaissance Office plan to spend $15 billion on rocket booster cores without enough information to determine whether they’re getting a “fair and reasonable” price, according to government auditors.
The House last week more than tripled funding for an updated version of a Cold War-era tank the U.S. Army says it doesn’t need. If the vote made questionable sense to some watchdogs in an era of tightening military spending, it made a lot of political sense to lawmakers seeking to preserve jobs in their districts.
The U.S. House passed legislation to increase the Export-Import Bank’s lending authority 40 percent by 2014, boosting President Barack Obama’s efforts to create manufacturing jobs by doubling exports in the next two years.
The House Appropriations Committee passed today a $649 billion defense spending bill that trims $9 billion from President Barack Obama ’s budget while boosting ground combat vehicles and special operations programs.
House Republicans proposed another round of budget cuts affecting health care, education, housing, transportation and scores of other programs one month after lawmakers wrapped up a spending fight that almost shut down the federal government.
House Democrats offered guidance to Congress’s deficit-cutting supercommittee that is more focused on raising new revenue and creating jobs than on trimming the federal budget, illustrating the gulf between the two parties.
General Electric Co .’s alternative Joint Strike Fighter engine should be included in any new stopgap legislation that keeps the U.S. executive branch funded after Dec. 3, according to a bipartisan group of six lawmakers.