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The Senate voted 91-5 for compromise legislation that cleared the House of Representatives by a 226-202 margin on Tuesday.
The measure will fund US efforts in both conflicts until fiscal year 2010 begins on October 1, at a time when Obama has charted a course for withdrawal from Iraq and an escalation in Afghanistan.
The new president has vowed to end the practice of using emergency spending bills to pay for the wars in Iraq and Afghanistan and instead fund US efforts there in the regular yearly appropriations process.
Among other budget items, the measure provides 79.9 billion dollars for Iraq and Afghanistan, as well as 7.7 billion dollars to combat the A(H1N1) flu virus.
The bill also includes eight billion dollars for the International Monetary Fund and a 100-billion-dollar US line of credit for the IMF to help developing countries combat the impact of the global recession.
And it comprises 400 million dollars to help build up the Pakistani security forces' ability to wage counterinsurgency warfare at a time when US lawmakers worry about the nuclear-armed ally's stability.
The measure includes one billion dollars to foster economic development and democratic governance in Afghanistan and 433 million for US diplomatic operations and facilities there.
For Pakistan, the bill includes 707 million dollars for boosting agriculture and food security, assist displaced residents, boost democratic governance, and improve education.
Another 900 million dollars would go to building a new secure US embassy and consulates in Pakistan, and 700 million more dollars for counterinsurgency funding starting September 30.
For Iraq, the bill includes 472 million dollars to continue stabilization programs, and strengthen governance and rule of law; and 486 million for diplomatic operations.
The legislation also calls on Obama to submit periodic reports detailing the progress achieved by his new strategy for Afghanistan and Pakistan.
The bill does not include the 80 million dollars Obama had sought to close the Guantanamo Bay detention facility for suspected terrorists.
The measure includes 660 million dollars in economic, humanitarian and security assistance for the West Bank and Gaza; 300 million dollars for Jordan, 310 million for Egypt, and 69 million dollars for Lebanon.
It includes 555 million dollars of Obama's 2.775 billion dollar request for security aid to Israel.
The bill provides one billion dollars for the so-called "cash for clunkers" program to stimulate the struggling auto industry, paying car buyers cash if they trade in their old gas-guzzling cars for newer more fuel-efficient models.
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