Senate passes 2-year budget deal, sending bill to Trump

GP: Mitch McConnell smiling with Reporters 190125
Senate Majority Leader Mitch McConnell, R-Ky., talks with reporters outside the Senate chamber about a continuing resolution to re-open the government on Friday, January 25, 2019.
Tom Williams | CQ-Roll Call Group | Getty Images

The Senate on Thursday passed a bill to raise the U.S. budget and lift the debt ceiling for the next two years.

The spending deal now heads to the Oval Office desk to be signed by President Donald Trump.

The bill passed the House last week despite weak support from Republicans, even after Trump urged them to vote for the deal.

Conservative lawmakers and advocates have griped that the deal, which was hashed out in July between the White House and congressional leaders in both parties, doesn’t take steps to curb spending or shrink ballooning U.S. deficits.

Rather, the bill raises spending by hundreds of billions of dollars, setting discretionary spending at about $1.37 trillion in fiscal year 2020 and even higher in 2021.

Meanwhile, total U.S. government debt now tops $22 trillion, and the Office of Management and Budget projects a $1 trillion deficit for 2019.

“There’s a day of reckoning with this,” Sen. Rick Scott, R-Fla., said on Fox News ahead of the vote. The deal was expected to expected to reach the 60-vote threshold required to pass in the Senate.

The bill also suspends the U.S. borrowing limit for two years, allowing both parties to circumvent another politically toxic fight over the debt ceiling before the 2020 presidential election.

Trump hyped up the budget deal in a tweet, telling Republicans to “go for it” and assuring them that “there is always plenty of time to CUT!”

Senate Majority Leader Mitch McConnell, R-Ky., spoke on the Senate floor Thursday morning to call on his caucus to pass the bill.

“This is the agreement the administration has negotiated, this is the deal the House has passed, this is the deal President Trump is waiting and eager to sign into law, this is the deal that every member of this body should support when we vote later this morning,” McConnell said.

This entry was posted in Debt, Politics and Government, US Economy. Bookmark the permalink.

Leave a Reply