AOL: Jolted to action by deficit-conscious newcomers, the Republican-controlled House agreed early Saturday to cut $61 billion from hundreds of federal programs and shelter coal companies, oil refiners and farmers from new government regulations.
By a 235-189 vote, largely along party lines, the House sent the bill to the Senate, where it faces longer odds, and defied a veto threat from President Barack Obama.
Passage of the legislation was the most striking victory to date for the 87 freshman Republicans elected last fall on a promise to attack the deficit and reduce the reach of government. Three Republicans joined Democrats in opposing the measure…. (more)
