Authorize 696 billion of funding and related policy provisions. Than 696 billion that seems to be that cap set on the budget control act the budget cap for defense so what that would take that would take a change in the law and 60 votes in the senate. So what we note if Senate Democrats have leverage to have more on that nondefense side that will lower the defense authorization. What type of investments is this call for . What is interesting as we heard from the of president of the campaign trail with a large scale military buildup the white house number was 603 billion with special wartime funds. So republicans that were pro defense would criticize this as too little but we do see a number of ships or pour structure. That headline of defense news the chairman of the committee and house or Services Panel overwhelmingly approved the defense measure. Sowing new branch of the military, the space for what does that entail . That is fairly controversial to be discussed at a markup. So the r
Joe sure. They asked it earlier this month, and what it is, it is the annual defense policy bill in the senate version, in this case, they authorized about 56 billion in funding and related provisions for the pentagon. That 696 billion figure, it exceeds the cap set in the budget control act. How will congress reconcile that . Joe that is a huge question. The budget cap for defense, the know is 549 billion. So what it would take to ease the spending cap is a change in the law, and a change in the law takes 60 votes in the senate, and 60 votes in the senate takes Senate Democrats. So what we know is that if Senate Democrats have leverage, in this deal, they are likely to press for more on the nondefense budget, which is likely to lower the defense side of the budget. Thats 596 billion number we are talking about is likely to come down. Lets go to investments, what does this bill called for in terms of ships and planes . Joe what is interesting about this bill, what we have heard from th
Joe sure. They asked it earlier this month, and what it is, it is the annual defense policy bill in the senate version, in this case, they authorized about 56 billion in funding and related provisions for the pentagon. That 696 billion figure, it exceeds the cap set in the budget control act. How will congress reconcile that . Joe that is a huge question. The budget cap for defense, the know is 549 billion. So what it would take to ease the spending cap is a change in the law, and a change in the law takes 60 votes in the senate, and 60 votes in the senate takes Senate Democrats. So what we know is that if Senate Democrats have leverage, in this deal, they are likely to press for more on the nondefense budget, which is likely to lower the defense side of the budget. Thats 596 billion number we are talking about is likely to come down. Lets go to investments, what does this bill called for in terms of ships and planes . Joe what is interesting about this bill, what we have heard from th
Been sit there is for months. Kpix 5s Jessica Flores shows us what is taking so long to fix it. Reporter right now were here in orinda. I want to take you to the sinkhole we are at the edge of it. Its 22 feet deal. And workers are here right now. There is not the only sinkhole causing a headache in the east bay. The massive hole stretches across miner road in orinda swallowing up every raindrop today. Crews working in the storm stabilized a 16 water main to be sure this sinkhole doesnt go from bad to worse. Well have pumps and manpower, and well just see how bad it gets. Reporter a few miles away the nearly year old sinkhole in moraga is covered in tarps. Moraga is a wealthy community. Why does it take so long to fix this . We dont have any restricted funding specifically for storm drains. Reporter public works director says the town is waiting for the federal government to approve funding for the project. We worked diligently with my team to get the plans and everything ready to bid a
Welcome. You are watching the polls live from Bloomberg European Head Quarters in london. I am guy johnson. We have a great lineup and we will be speaking exclusively to the finance minister. And the outlook and personalities behind the parties for the most famous spin doctor tony blair, a former campaign manager. The head of hsbc will be questioned over the tax evasion scandal. The lastminute decision by the treasury select came off of the emergence that he had held a Swiss Bank Account by a panamanian company. That starts at 2 15 london time and they will answer questions about tax avoidance and if the institution is too big to manage. Lets go to anna edwards on what we can expect from the treasury committee. Have we mentioned it is an Election Year . The most senior bankers are going in front of the u. K. Treasury select committee and politicians get a chance to grill the executives about what the bank was doing and how they change things since then. The bank says they are sorry for