Bush Signs into Law Bailout Bill That Includes County Payments
Salem, OR October 3, 2008 3:19 p.m.
The $700 billion economic bill President Bush signed Friday doesn’t just bail out Wall Street. It also has a pot of cash for struggling counties and school districts in timber country.
A long-time federal subsidy program expired earlier this year. The money went to counties with large tracts of federal land.
Oregon Democratic Senator Ron Wyden says the new four-year extension is a lifeline for rural communities. But he says it’s probably going to be the last time they’ll receive the money.
Ron Wyden: “We’ve gotta use this four-year period to make sure that we work together so that at the end of this four years, we will have strong new economic opportunities for the rural part of the state.”
Despite his elation, Wyden actually voted against extending the county payments. That’s because he opposed the overall bailout package.
Idaho Republican Senator Larry Craig is another key figure in reviving the timber county subsidies. He cast a yes vote in the Senate.
© 2008 OPB
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