Obama proposed:
• Ending $26 billion in oil and gas industry tax breaks, which he called "unjustifiable loopholes" in the tax system that other industries do not get.
• Eliminating federal support for a $35 million-a-year radio-based marine navigation system rendered obsolete by the satellite-based Global Positioning System.
• Doing away with a $142 million program to help states pay to clean up abandoned mines.
• Abolishing an Education Department attache's post in Paris, at a savings of $632,000 per year.
He called for a $3 increase in per-segment air fare taxes starting in 2012, which would raise the maximum fee from $5 to $11 per trip as a way to finance airport security screenings
In over 1,500 pages, Obama sought to flesh out the bare-bones budget outline he submitted in February shortly after taking office. Both the House and Senate last week approved a $3.4 trillion budget blueprint reflecting most of Obama's priorities and clearing the way for new spending on health care, energy and education. More details are due from the White House next week.
http://news.yahoo.com/s/ap/20090507/...s_obama_budget
Initial thoughts?
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