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Congressional leaders reached a $1.66 trillion agreement Sunday to finance the federal government in 2024, preserving funding for key domestic and social safety net programs in the face of GOP demands to cut the government’s budget.
Now lawmakers are up against a stiff deadline to pass legislation to codify the deal and avert a partial government shutdown.
The agreement, announced jointly by Senate Majority Leader Chuck Schumer (D-N.Y.) and House Speaker Mike Johnson (R-La.
), will almost surely face vehement opposition from far-right House Republicans, who had hoped to force steep budget cuts.
Those figures adhere to a deal reached by President Biden and then-Speaker Kevin McCarthy last spring to suspend the nation’s debt limit in exchange for limiting discretionary spending to $1.59 trillion in 2024, with 1 percent growth in 2025.
Because that represented a cut when taking inflation into account, Biden and McCarthy agreed to spend another $69 billion each year in a side deal, with some of that offset by repurposing existing funds.
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