Treasury: Some Aid To Be Held Over for New Administration

Treasury Secretary Henry M. Paulson Jr. indicated on Nov. 18 the Bush administration will hold back some of the $700 billion in economic rescue aid until President-elect Barack Obama takes office.

Paulson told a House hearing, “This financial crisis is... difficult to counteract.” He said officials decided it was “prudent” to reserve some funds, “maintaining not only our flexibility but that of the next administration.”