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Shutdown Ends as Congress Approves Two-Year Spending Bill
12 February 2018, 12:41 | Devin Moran
House and Senate Pursue Spending Deals as Shutdown Looms
Ryan hasn't scheduled House consideration, infuriating Democrats, but he said Friday, "We will focus on bringing that debate to this floor and finding a solution".
Healthcare stakeholders praised the passage of the bill.
The growth assumptions in Trump'sbudget were first reported by the Wall Street Journal. The forecast assumes the 10-year Treasury yield will average 2.6 percent this year and 3.1 percent next year before rising to 3.7 percent by early next decade, the newspaper reported. The whole mess could be settled by Friday morning, but one never knows.
He argued the decision adds $400 billion to defense spending as well as non-defense expenses, which puts America at risk of adding another $1 trillion to the national debt. Republicans contend that the tax cuts will fuel a spike in economic growth.
Congress passed a bipartisan budget plan in the early hours on Friday, ending a government shutdown that lasted just a few hours.
Later senators voted 71-28 to approve the deal, easily overcoming objections from fiscal conservatives who say the bill marks a return to unchecked deficitspending.
Many of his Republican colleagues are objected to his protest.
The budgetbill would not replace a lapsed immigration programme known as Deferred Action for Childhood Arrivals (DACA) that afforded some 800,000 young immigrants protection from deportation and work permits.
The bill, which includes a far-reaching deal that increases spending limits for the next two years and raises the federal debt ceiling until March 2019, would break the cycle of government funding crises in time for what is set to be a bruising campaign for November's mid-term elections.
Though brief - the government had reopened before most people had arrived to work on Friday, hours after the shutdown began - the timing of the shutdown was unsafe, coming soon after another massive sell-off on U.S. markets reflecting investor nerves about the USA economy.
The bill contains $165bn of additional defence spending and $131bn in domestic spending, including funding for healthcare, infrastructure and tackling the USA opioid crisis, reportsReuters news agency.
None of the added spending will be offset by budget savings elsewhere or revenue increases, relying instead on government borrowing. The deal also includes $89 billion for disaster aid for hurricane ravished Texas, Florida and Puerto Rico.
The shutdown in Washington came at a sensitive time for financial markets.
Wall Street's main stock indexes climbed more than 1 percent on February 9, giving investors some solace after a week of huge swings that shook the market out of months of calm. Paul had harsh words for his own party.
"I want people to feel uncomfortable", Paul said on the Senate floor.
House Minority Leader Nancy Pelosi said she would oppose the deal because it does not include protections for the Dreamers, young undocumented migrants brought to the United States as children.
New Orleans Congressman Cedric Richmond, the chairman of the Congressional Black Caucus, had demanded that some sort of legal status for so-called "Dreamers" - immigrants brought to the country illegally as children - be included in any spending deal. Make a donation and help pay for our journalism.
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