Congress Sends Obama Budget

Bipartisan budget easing $63 billion in automatic spending cuts passes Senate. President Obama has said he'll sign it.

The U.S. Senate cleared and sent to President Barack Obama the first bipartisan budget produced by a divided Congress in 27 years, resolving (for now) spending issues that had helped spur a government shutdown in October.

The $1.01 trillion budget deal, which passed 64-36 today, eases $63 billion in automatic spending cuts, raises user fees, and lowers the U.S. deficit over 10 years. The plan keeps in place about half of the spending reductions known as sequestration for next year and about three-quarters of the planned cuts for 2015.

Senate Appropriations Chairwoman Barbara Mikulski of Maryland told fellow Democrats during a closed-door meeting yesterday that she plans to have a catchall spending bill ready for lawmakers to consider when they return to Washington in January, Reid said.

“She’s going to work during the Christmas break, all the subcommittees will work, and when we come back, she believes we will have an omnibus,” Reid said.

Page 1 of 2

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Advertisement. Closing in 15 seconds.