Tornado Alley (PROG)

[StephanieVanbryce]

Bush Proposes Extending Loans to Israel
Tuesday, August 22, 2006 / 28 Av 5766



(IsraelNN.com) American President George W. Bush has proposed to Congress extending by three years the option for Israel to use $9 billion in loan guarantees. They were granted to Israel in 2003, but unexpected growth in the economy has allowed Israel to hold on to half of the guarantees for future use.

Several Knesset members have asserted that the government is hiding a huge cash surplus, part of which has been amassed because of higher tax revenues as a result of high corporate revenues and the increase in gasoline, which has resulted in a higher tax inflow to the treasury.

http://www.israelnn.com/print.php3?what=news&id=110536