The U.S. Congress is under the gun to pass a spending bill that will keep the federal government funded. Lawmakers from both sides of the aisle have come up with a deal that, if passed, will avert another government shutdown.
The current budget resolution runs out on Friday, February 15, and the proposed new budget would last until March 23. The proposal was first announced on Tuesday, February 12, and has been met with a mixture of support and doubt from both sides of the aisle.
The proposal includes an increase of $68 billion for both domestic and military spending, and an additional $1.3 billion for border security, which does not include money for a wall. It also includes a two-year suspension of the debt ceiling, which would allow the government to borrow more money without requiring approval from Congress.
The most contentious portion of the proposed bill is the lack of language to protect the Affordable Care Act. Both sides had wanted legislation to protect the ACA, but Republicans were firm in their stance that it had to be addressed separately.
The proposed budget also would extend the Children’s Health Insurance Program for an additional six years.
Congress will have just a few days to pass the new budget resolution, or else face a costly shutdown. Both Republicans and Democrats are cautiously optimistic that the deal will pass.
Although the new budget would provide relief from the financial uncertainty surrounding government spending, it doesn’t completely address the issues facing the nation. It does, however, provide a path forward for both parties to come to a consensus on a number of issues, without needing to resort to another government shutdown.
The looming deadline to pass this budget resolution puts a significant amount of pressure on Congress to get it done by Friday, and it will be something that everyone will be watching closely.
