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Spending Levels

All articles tagged with #spending levels

politics2 years ago•2 min saved

"Congress Rushes to Pass Stopgap Spending Bill, Averting Shutdown"

Congress is set to vote on a bill to prevent a government shutdown one day before the deadline, with the Democratic-led Senate scheduled to vote first and the Republican-controlled House hoping to pass it later Thursday. The bill would extend government funding through March 1 and March 8, giving appropriators more time to craft the 12 appropriations bills using newly agreed-to spending levels. The vote comes after a recent deal between Speaker Mike Johnson and Senate Majority Leader Chuck Schumer, but faces opposition from right-wing House Republicans.

via NBC News|

#congress #funding-bill #government-shutdown

politics2 years ago•2 min saved

"Congressional Leaders Reach Bipartisan $1.7T Funding Deal to Avert Shutdown"

Senate and House leaders have reached an agreement on 2024 government funding, setting total spending at nearly $1.66 trillion with an increase in Pentagon spending to $886.3 billion and nondefense funding essentially flat at $772.7 billion. The deal needs to be passed into law before a Jan. 19 deadline to avert a partial government shutdown, and includes $69 billion of added money agreed to through a handshake deal between the White House and then-Speaker Kevin McCarthy, offset by $10 billion in cuts to I.R.S. enforcement and $6 billion in unspent Covid dollars and other emergency funds. Bipartisan cooperation is emphasized to avoid a costly and disruptive shutdown.

via The New York Times|

#bipartisan-agreement #congress #government-funding

politics2 years ago•3 min saved

Debt deal nearing deadline with potential for massive stock losses.

Republicans and the White House are reportedly closing the gap on spending levels in negotiations for a debt deal, with one person briefed on the talks saying that the two sides are still tens of billions of dollars apart. Republicans are eager to show progress before members leave for Memorial Day weekend, even if negotiators remain short of a deal. The negotiations are expected to continue over the weekend, with a possible Tuesday night vote if text is received in time. One credit rating agency is considering downgrading the nation’s top credit rating as the country staggers towards default.

via POLITICO|

#debt-deal #negotiations #politics