Home industry banking-and-finance the Senate voted early to approve a $1.2 trillion funding agreement
Banking And Finance
CIO Bulletin
2024-03-25
The Senate passed a $1.2 trillion spending bill early in the fiscal year, delaying potential government shutdown fears. President Joe Biden is set to sign it into legality.
Nearly six months into the fiscal year, the Senate finally passed a $1.2 trillion bundle of spending bills early on Saturday morning. This move will delay any potential government shutdown fears. President Joe Biden will now sign and make it legal. The outcome was 74–24. It arrived after the agencies' funding ran out at midnight, but not before the Office of Management and Budget announced that it had stopped preparing for a shutdown because it was highly likely that Congress would approve the bill and the president would sign it on Saturday.
The likelihood of a brief government shutdown seemed to increase on Friday night following a dispute between Republicans and Democrats over changes to the measure. Should the bill's changes be successful, the legislation would have been returned to the House, which had already adjourned for a two-week break. However, Senate Majority Leader Chuck Schumer revealed a breakthrough just before midnight.
The package that was enacted this week provides funding for the Defense, Homeland Security, and State departments, as well as other elements of general government. Prior to this, Congress had previously approved funding for Veterans Affairs, Interior, Agriculture, and other agencies.
By a vote of 286–134 on Friday morning, the House narrowly secured the two-thirds majority needed for passage.
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