From the Reuters

In a move by the House Appropriations Committee last week, the AmeriCorps volunteer program was cut from a spending bill, Reuters reports.

President Clinton wanted $500 million for Americorps next year, but the House refused. The Senate Appropriations Committee budgeted $425 million for the program, which is about the same amount the program received in the current fiscal year.

The president has threatened to veto several bills unless programs he supports are funded. Reuters says funding for AmeriCorps may have another chance later this summer when the Senate and House meet for a legislative conference.

A favorite project of President Clinton's, AmeriCorps gives young people $4,725 for college expenses in exchange for one year of volunteer service. Some have tagged it as a '90s domestic version of the Peace Corps.