Clinton Signs Bill With Remnants of Stimulus Plan

Admitting it was not nearly what he had hoped for, President Clinton signed into law a “modest” $1-billion bill that provides mere remnants of what he originally sought in a multibillion-dollar fiscal stimulus package.

The measure also provides supplemental funds for a number of government programs that have run out of money.

“This bill does not nearly provide what I believe is necessary to help our economy,” Clinton said in a statement Saturday. “But every job it creates . . . will make a difference to the people and communities served by this legislation.”

The President signed the legislation late Friday, saying that it would mean “that summer jobs will be created, local law enforcement will be able to hire back police laid off during the last recession and small businesses will be able to expand their payrolls, products and profits.”

Clinton suffered his first major legislative defeat in April when his jobs bill, originally worth $16.3 billion, was killed by Senate Republicans who argued it was loaded with wasteful projects that would accomplish little but drive up the federal budget deficit.

After the original measure was killed, one piece of it was sent to Clinton: $4 billion to extend jobless benefits for nearly 2 million unemployed workers.

The bill he signed contains $3.5 billion in new spending and $2.5 billion in cuts, for a net cost of $1 billion.

It also contains money to pay for U.S. military operations in Somalia and Iraq, veterans’ benefits and other programs.

Clinton praised Congress “for developing a supplemental appropriations bill that supports my investment program and meets urgent national needs.”

Surviving from Clinton’s original measure:

* $341 million for Pell college grants, $1.7 billion less than the President originally wanted.

* $220 million for summer jobs, $780 million less than initially sought.

* $150 million to hire new police officers, $50 million less.

* $175 million for small business loans, $34 million more than originally proposed.

* $70 million for rural water and sewage grants and loans, $280 million less.

* $45 million for Amtrak, $143 million less.

Also on Saturday, Clinton announced that he had signed legislation extending the Administration’s authority to complete negotiations on a global free-trade agreement.

The bill allows the President to enter into trade agreements worked out by the Uruguay Round of the General Agreement on Tariffs and Trade, or GATT.