The historic 700-billion dollar financial markets rescue bill has passed the house and been signed by President Bush (web|news|bio), despite pleas from some representatives to remove pork barrel projects from it.

As we told you yesterday, the bill which passed through the House 263-to-171, contained hundreds of millions of dollars in spending for everything from tax breaks for rum production to race track owners to wooden arrows used in children's toys.

Representatives Spencer Bachus of Alabama and Brad Sherman of California were vocal in their outrage of the projects with Bachus calling the bill a 'travesty' and Sherman calling it a 'pork-laden, earmark-laden bailout bill'.

Thursday, Bachus led a push for an amendment by Ohio Representative Steve LaTourette to strip the pork projects from the bill, which LaTourette said would save taxpayers nearly half a trillion dollars.

But, Bachus -- the ranking member of House Financial Services -- said while the amendment was not allowed, the rescue was necessary to prevent a further economic crisis.

Bachus ended up voting for the bill while Sherman was one of 63 Democrats who voted against it. LaTourette also voted against the bill.

Four of five Oklahoma representatives voted for the bill with Frank Lucas the only one who voted against it.

Email To A Friend