Hill sources: Treasury won't use full bailout - WKOW 27: Madison, WI Breaking News, Weather and Sports

Hill sources: Treasury won't use full bailout


WASHINGTON (AP) -- Congressional officials say the Bush administration has informed top lawmakers it does not intend to use at least half the $700 billion bailout fund that Congress approved this fall to aid the financial industry.

  These officials said administration officials passed the word over the weekend that they intend to leave $350 billion untouched when they leave office on Jan. 20.

  That would mean the incoming Obama administration would decide whether and how the funds should be spent.

  These officials spoke on condition of anonymity, saying they were not authorized to disclose the developments.

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