Senate passes Trump-backed budget deal, averting threat of financial crisis, shutdown, automatic spending cuts
WASHINGTON— A bipartisan budget and debt deal has passed the Senate and is heading to the White House for President Donald Trump’s signature.
Thursday’s vote addresses a worrisome set of Washington deadlines as Trump’s allies and adversaries set aside ideology in exchange for relative fiscal peace and stability.
The measure would permit the government to resume borrowing to pay all its bills and would set an overall $1.37 trillion limit on agency budgets approved by Congress annually. It also would remove the prospect of a government shutdown in October and automatic spending cuts.
But a tea party senator, Republican Rand Paul of Kentucky, says the legislation really is a spectacular failure because it will add hundreds of billions of dollars to the country’s spiraling debt.