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Senate Passes Ninth Continuing Resolution

The Senate approve by voice vote Thursday a joint resolution to keep the government operating through Jan. 31.

The ninth continuing resolution for fiscal 2003, approved by the House on Wednesday, picks up where the current CR, set to expire Saturday, leaves off by maintaining fiscal 2002 spending levels.

The measure was necessary because Congress has only passed two of 13 required appropriations bills.

It also makes money available for the start-up costs of the new Public Company Accounting Oversight Board — created by the Sarbanes-Oxley act passed last year. The measure also requires the new board to reimburse the Securities and Exchange Commission for any expenses it incurs to that end.

The CR also acts as approval of the prospectus for the new Department of Homeland Security and allows the District of Columbia to spend its revenues at fiscal 2003 budget levels.

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