This potential bill means congressional support behind a Direct version of a shuttle replacement or something close enough not to matter. Direct is a design to replace the space shuttle with a rocket that puts the cargo and capsule on top of the tank, and moves the shuttle engines on the bottom of the tank. Without having to lift the load of the space shuttle itself, the rocket gets 77mT of cargo to orbit.
Re-using all the major shuttle components provides the cheapest possible option for a Heavy Lift Vehicle, not to mention the quickest, as a Direct design could be flying by 2013. The current plan from the administration doesn't even decide on a HLV design until 2015, let alone start the process of building and testing it. This is not a barrel of pork. Yes, somebody will make some money, but this is the cheapest option at the moment to keep a US heavy lift capability in the near future, and it will be built here in the US.
Current US lift capability stops at only 25mT in the Shuttle cargo bay to Low Earth Orbit. By funding a Direct style vehicle, we get a minimum of 75 mT to orbit without a second stage. This a very good thing. With further development of a second stage, the payload capacity increases to 115mT+. Not only that, but by putting the payload on top of the vehicle, a direct style rocket can support a payload as wide as 12m across (shuttle can only do 5m). So we get the ability to send more per launch and save over the life of a large project. For example, five flights of Direct would have been sufficient to build the ISS, versus the 40 shuttle launches it actually took.
By re-using the same engines and boosters as the space shuttle, we save billions (maybe $10 billion over time) in research and launch facility changes necessary for other designs (Ares would have required 2 new pad designs and new crawlers at a $1 billion a pop). The cost per launch for Direct will be less expensive as well. For comparison, recovery of the shuttle SRB's, refurbishment of the shuttle and launch costs per launch have averaged out to about $1.3 billion per launch. A Direct will cost somewhere north of $200 million for the launch vehicle, plus operating costs, but won't include refurbishment or recovery operations. For the immediate future NASA says it will launch the last shuttle in 2011, and after we'll be paying the Russians $20-30 million per seat for rides in a Soyuz
We save time in that we can have an un-manned cargo version of the vehicle doing test flights by 2013, whereas the engine testing alone for a liquid-fueled booster would take 5 years by the current plan. as all the parts are already man-rated (save for the modified ET), we could be launching Orion capsules on a Direct as soon as the Orions finish development in 2015 or so.
If this passes, I'll be one very happy space fan.