OMB Details Iraq ExpendituresClick to read article.
In the first of their mandated quarterly reports released this week, OMB outlined the specific uses of the $18.65 billion appropriated for Iraq reconstruction. The report itemized funds to be spent on security, law enforcement, and infrastructure improvements. Approximately $12.86 billion will be spent in fiscal 2004, leaving $5.79 billion for fiscal 2005 obligations.
"The report cautioned that since the White House submitted its supplemental request, circumstances have changed--such as the procurement of $13 billion from foreign donors at the October donors' conference in Madrid, the November agreement between the Coalition Provisional Authority and the Iraqi Governing Council to accelerate the transition to Iraqi sovereignty, and the "revised emphasis on funding for security forces."