WASHINGTON, DC -- House and Senate negotiators, who are working on a final version of the $87 billion Iraq supplemental spending bill, announced this afternoon that they will not include a provision in the bill that will provide Iraq with rebuilding funds in the form of a loan, rather than a grant. Senator Collins authored a bipartisan proposal, which was approved by the Senate, and would have provided $10 billion in rebuilding costs as a loan to the Iraqi people, to be repaid in the future when the country has the ability to do so.
A similar measure was also approved by the US House.
Following today's announcement by negotiators of the bill, Senator Collins released the following statement:
"I am extremely disappointed that conferees have dropped the loan provision that has widespread, bipartisan support in both the House and Senate.
"I believe this provision would have boosted public support for the rebuilding efforts in Iraq."