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Deficit reduction bill headed to president

WASHINGTON, Feb. 2 (UPI) -- U.S. President George W. Bush said he looked forward to signing a deficit reduction bill passed by the House of Representatives.

Bush said the bill, which is expected to save some $40 billion over five years, would help cut the federal budget deficit in half by 2009.

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"I look forward to signing this bill into law," Bush said in a White House release. "The budget I propose next week will continue to build on the spending restraint we have achieved."

The measured cleared the House on a 216-214 vote, with 200 Democrats, 13 Republicans and one independent voting against it. The measure passed the Senate only because Vice President Dick Cheney cast a tie-breaking vote.

The Washington Post reported that opponents claimed the bill would make it harder for women on welfare to qualify for payments, while Medicaid recipients would see higher co-payments and deductibles, and college students may have to pay higher interest rates on federal school loans.

Opponents also pointed to the incongruity of cutting some programs that help the poor just before considering making tax cuts for higher-income Americans permanent.

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