Bush seeks $20 billion in emergency spending

The White House is set to propose emergency spending that could top $20 billion.

The White House is set to propose emergency spending that could top $20 billion.

This is to fund the military campaign in Afghanistan, aid allies in the "war on terrorism", and boost SEC oversight after Enron Corp's collapse.

Administration and congressional sources said the package, which President Bush planned to submit to Congress as early as Thursday, is expected to include over $10 billion for the military to cover the costs of the war in Afghanistan and beyond.

An estimated $1 billion would go to allies in the anti-terror campaign, including the US-backed government in Afghanistan, which is expected to receive $250 million on top of what Washington has already pledged. Turkey, Pakistan, Yemen, and Georgia may also benefit.

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The White House said Bush would ask Congress for more flexibility to provide US military aid to help the Colombian government fight rebels and the illegal drug trade.

In addition, the administration will provide an extra $5.4 billion to help New York recover from the September 11 attacks. Another $4 billion could help the Transportation Department beef up security at the nation's airports, sources said.

White House officials said the Securities and Exchange Commission would get about $7 million in extra funding this year to step up oversight of the accounting industry.

Mr Bush announced plans earlier this month to crack down on abuses by accounting firms and corporate executives in response to the collapse of Enron, his biggest financial backer in the 2000 campaign.