Crapo votes to cut deficit by $39 billion over five years
Washington, DC â??Idaho Senator Mike Crapo voted today to approve a budget reconciliation package to reduce federal spending by more than $39 billion between 2006 and 2010. S. 1932, the Deficit Reduction Omnibus Reconciliation Act of 2005, is the first deficit-reduction bill to pass since 1997. The bill passed as expected on a vote of 51-50 with Vice President Cheney casting the tie-breaking vote. Crapo is member of both the Senate Budget and Finance Committees, which crafted many of the cost savings measures. He worked extensively with the conferees who drafted the final bill that was voted on today in the Senate. â??This package is the first savings package Congress has been able to approve in several years and it will put federal spending on track to achieving a balanced budget,â?? Crapo said. â??Federal spending must be addressed and this package meets the needs of the people while being mindful of the governmentâ??s commitment to economic stability.â?? The bill also includes $2 billion in Katrina-related healthcare costs. The House passed this budget package earlier this month. However, the Senate amended the report from the House-passed version, so it will return to the House for a final vote before heading to the Presidentâ??s desk.