House to vote on spending bill

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UPDATE 2-House spending bill funds Obama priorities

* Would fund Dodd-Frank banking oversight effort

* Includes earmark ban, pay freeze

* Sharp change of course from previous spending bills (New throughout)

By Andy Sullivan

WASHINGTON, Dec 8 (Reuters) - The House of Representatives on Wednesday is scheduled to vote on a spending bill that reflects a sharp change of course from the generous spending increases that Democrats have backed over the past two years to fight the deepest recession since the 1930s.

The bill would enable President Barack Obama to implement tougher financial-industry regulations, increased education aid and other priorities as it funds government operations through October 2011, but at a level $46 billion less than he requested.

Still, Democrats hope the measure would make it more difficult for Republicans to push through even deeper spending cuts when they take control of the House in January.

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Democratic Representative David Obey, who oversees spending as head of the Appropriations Committee, said in a statement that he had tried to come up with the best bill possible given the strong sentiment in Washington to rein in spending.

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