US congress strikes $1.59 Trillion spending deal

Published January 8th, 2024 - 07:22 GMT
US hundred dollars
US one hundred dollars bills money line pattern, close up (Shutterstock)

ALBAWABA - In a collaborative effort, Democrats and Republicans within the US Congress have come to a consensus on a $1.59 trillion spending deal aimed at preventing a government shutdown. Key figures are racing against the clock to pass legislation allocating funds before the government faces a potential shutdown later this month.

Since the commencement of the fiscal year on October 1, 2022, disputes over the total expenditure have hindered the House and Senate Appropriations Committees from reaching an agreement on the essential 12-year spending bill required to finance the government.

As lawmakers return from the holiday break today, these committees are entering into intensive negotiations regarding the allocated budgets for various agencies, ranging from the Departments of Agriculture and Transportation to Homeland Security and Health and Human Services. The fiscal year is set to conclude on September 30.

The deadline for the initial set of bills to secure passage through Congress is January 19, with the remainder slated for approval by February 2.

According to Republican House Minority Leader Mike Johnson, the total figure encompasses $886 billion designated for defense and $704 billion for non-defense spending. However, Democratic Senate Majority Leader Chuck Schumer, in a separate statement, indicated that the non-defense spending would amount to $772.7 billion.

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