Senate Stimulus Bill Includes Hundreds of Millions for Big Corporations
Sara Goo
Tucked in the Senate version of the stimulus bill are some benefits for a handful of big companies.
Boeing of Chicago could get $200 million to add to its multi-billion dollar Department of Homeland Security project, called SBI Net. The program calls for Boeing to build a “virtual fence” along the Southwestern border, but it has been stalled after technical problems.
Northrop Grumman and Raytheon would see a boost from a provision in the Senate bill that would give millions of dollars to build a satellite system to monitor climate change. The two companies have been working on such a satellite for years.
The Senate bill also gave $1 billion to Homeland Security and the Transportation Security Administration to buy and install baggage-screening gear. That deal could benefit the few companies, including L-3 Communications Holdings, General Electric and Reveal Imaging Technologies.
Many details were first reported by the Wall Street Journal.
--Dana Hedgpeth
By Sara Goo | February 11, 2009; 9:59 AM ET