Wall Street wins again as Dems agree to cut back funds for SEC

Democrats concede to curb funds for Wall Street regulators in spending bill

• GOP drops demands for cuts to food stamp programme
• House to vote on bipartisan bill on Wednesday

Dan Roberts in Washington
theguardian.com, Tuesday 14 January 2014 09.19 EST

Republican negotiators have reined in funding for Wall Street regulators as part of agreeing a $1.1tn federal budget, but dropped demands for further reductions in federal food stamp programmes that would have hit America’s poorest families.

The measures are among thousands of spending items contained in the so-called omnibus appropriations bill published on Monday night in a bipartisan effort to avoid another government shutdown when current authorisation expires on Friday.

The House of Representatives is due to vote on the measure on Wednesday. If passed, it would be the first time since 2011 that Congress has agreed a detailed budget and builds on negotiations by senator Patty Murray and congressman Paul Ryan before Christmas to set broad tax and spending parameters.

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