Government

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.”

Pam Hunter McFarland was a Senior Editor of ENR and her expertise was: Sourcebooks, Environment, Labor

As ENR's former Washington Bureau Chief, Tom Ichniowski wrote about the federal government since the George H.W. Bush administration, and covered at least five major highway bills. A recognized expert on government policy on infrastructure and regulation, Tom is also a Baltimore native and Orioles fan who grew up rooting for Brooks and Frank Robinson. He is a graduate of Columbia College and Columbia’s graduate school of journalism, where he once used “unrelentless” in a headline.

Post a comment to this article

Join Groundbreaking Women in Construction (GWIC) in San Diego from June 14 to 16, 2026. This premier leadership conference brings together women across the construction industry to gain practical strategies, grow their network, and advance their careers. Learn from ENR-curated sessions, connect with trailblazing professionals, and walk away with tools that drive retention, innovation, and impact.

Live: June 23, 2026 at 2:00 pm EDT New market dynamics like competitive pressures and workforce evolutions are forcing construction companies to re-prioritize their investments. To strengthen cash flow, accelerate operations, and boost profits, learn how the focus now must be on optimizing digital transformation and financial management.