financetom
Economy
financetom
/
Economy
/
Top US congressional Republican, Democrat say deal reached on spending
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Top US congressional Republican, Democrat say deal reached on spending
Mar 19, 2024 6:33 AM

WASHINGTON (Reuters) -The top Republican and Democrat in the U.S. Congress on Tuesday said they had reached a deal to keep the government funded through the rest of the fiscal year that began in October, setting off a race to pass it before a weekend shutdown deadline.

The last sticking point was funding for the Department of Homeland Security, as a surge in migrants at the U.S.-Mexico border has become a major issue in the election rematch between Democratic President Joe Biden and his Republican predecessor Donald Trump.

Republican House Speaker Mike Johnson and Democratic Senate Majority Leader Chuck Schumer revealed the agreement in a pair of Tuesday morning statements.

It was expected to cover about three-quarters of discretionary government spending, due to come in at about $1.66 trillion for the fiscal year ending Sept. 30. It contains funding for functions including the U.S. military, transportation, housing and food safety.

But more fights lie ahead as the nation's $34.5 trillion national debt continues to grow. Biden and House Republicans earlier this month laid out proposed budgets for the next fiscal year, which begins in October, that offered sharply contrasting priorities.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Builds Gains After Redbook Index Rises Again
US Dollar Builds Gains After Redbook Index Rises Again
May 29, 2024
09:24 AM EDT, 05/29/2024 (MT Newswires) -- The US dollar added to gains over major counterparts like the euro and the British pound but remained softer against safe-havens like the Japanese yen and Swiss franc in early North American trade on Wednesday after the Redbook Index rose further for the recent week. EUR/USD and GBP/USD fell back toward session lows...
US Dollar Rises Early Wednesday Ahead of Busy Data Schedule, Beige Book
US Dollar Rises Early Wednesday Ahead of Busy Data Schedule, Beige Book
May 29, 2024
07:27 AM EDT, 05/29/2024 (MT Newswires) -- The US dollar advanced against its major trading partners early Wednesday ahead of busy day of data releases and Federal Reserve events. Weekly Redbook same-store sales are due for release at 8:55 am ET, followed by the Richmond Fed's conditions readings for May at 10:00 am ET and the Dallas Fed's nonmanufacturing index...
May Richmond Fed Regional Manufacturing, Services Readings Both Increase
May Richmond Fed Regional Manufacturing, Services Readings Both Increase
May 29, 2024
10:09 AM EDT, 05/29/2024 (MT Newswires) -- The Richmond Fed's monthly manufacturing index rose to a reading of 0 in May from minus 7 in April, compared with expectations for no change in a survey compiled by Bloomberg as of 7:45 am ET. The reading indicates neither expansion nor contraction. Other regional manufacturing data already released have been mixed. Released...
Dallas Fed Services Index Declines Further into Contraction in May
Dallas Fed Services Index Declines Further into Contraction in May
May 29, 2024
10:41 AM EDT, 05/29/2024 (MT Newswires) -- The Dallas Federal Reserve's monthly general business services index declined to a reading of minus 12.1 in May from minus 10.6 in April, compared with expectations for an increase to minus 9.4 in a survey compiled by Bloomberg as of 7:45 am ET. The reading indicates a faster pace of contraction, which is...
Copyright 2023-2026 - www.financetom.com All Rights Reserved