Connect with us

Hi, what are you looking for?

Earnings PolicyEarnings Policy

Investing

Biden signs temporary spending bill, pushes budget fight with GOP into 2024

President Biden signed a temporary spending bill that will push the ongoing federal budget battle into the next year.

Biden signed the bill Thursday after it was passed by both the House and Senate this week with bipartisan support.

The spending measure — conceived to avoid a government shutdown — will allow the government to stay open through the holiday season.

While a more long-term solution is debated, the spending measure will maintain current government funding for approximately two months.

House Speaker Mike Johnson championed the spending package, and it passed 336 to 95 — just two Democrats voted against the bill, along with 93 Republicans. 

It also received votes from all but 10 Republicans and one Democrat in the Senate, passing on Wednesday.

Senate Majority Leader Chuck Schumer, D-N.Y., described Wednesday as ‘a very, very good night for the American people’ before announcing a government shutdown had been avoided, which he credited to ‘bipartisan cooperation.’

‘Obviously, the Republican-led House needed Democratic votes to avoid a shutdown, and I was pleased to see that the speaker was willing to work with Democrats and resisted the siren song of the hard right in the House,’ Schumer said to reporters. ‘And if that continues, we can avoid further shutdowns and finish the work of funding the government.’

Left out of the temporary spending measure was wartime aid for embattled U.S. allies Israel and Ukraine.

The White House is requesting approximately $106 billion in aid for the two nations as Israel continues its ground invasion of Gaza and Ukraine continues its war of defense against neighboring Russia.

Biden signed the bill while still in San Francisco for the Asia-Pacific Economic Cooperation summit.

Biden’s team announced the development late Thursday night after the president signed the bill at the Legion of Honor Museum, where he was hosting APEC summit attendees.

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Economy

    Everything You Need to Know about Tax Saving Deposit Navigating the world of investments can be daunting, especially when looking for options that offer...

    Latest News

    FBI Director Christopher A. Wray, who has been increasingly under attack from congressional Republicans, pushed back against his critics in a new interview, saying...

    Economy

    USDCHF and USDJPY: USDJPY is testing support at 150.00 The USDCHF pair jumped to 0.91126 levels on Wednesday, forming a new three-week high. The...

    Latest News

    One ripple effect of the Israel-Gaza war is the warp-speed unraveling of relations between President Biden and some of his most loyal voters: Muslims...

    Disclaimer: earningspolicy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 earningspolicy.com