Shutdown: U.S. Congress Unveil $1.1 Trillion Bipartisan Spending Measure

Shutdown: U.S. Congress Unveil $1.1 Trillion Bipartisan Spending Measure

Shutdown: U.S. Congress Unveil $1.1 Trillion Bipartisan Spending Measure

After several days of delay, U.S. congressional leaders have finally unveiled a bipartisan spending measure totaling $1.1 trillion, aimed at funding defense, homeland security, and various other programs, Excel Magazine International can report.

The announcement came early Thursday, leaving lawmakers with less than two days to prevent a partial government shutdown.

It was learnt that the Republican-controlled House of Representatives is set to vote on the extensive package on Friday, putting pressure on the Democratic-majority Senate to swiftly pass the bundle of six bills, covering approximately two-thirds of the $1.66 trillion in discretionary government spending for the fiscal year that commenced on October 1.

In a joint statement obtained by Excel Magazine International, the two leading Senate negotiators, Democrat Patty Murray and Republican Susan Collins, hailed the final six bills as a bipartisan and bicameral compromise that will invest in the American people, bolster the economy, enhance community safety, and fortify national security and global leadership.

However, the Congressional Budget Office has issued a cautionary warning, forecasting significant growth in U.S. deficits and debt over the next three decades.

The projection indicates that the nation’s $34.5 trillion national debt, currently standing at about 99% of GDP, could surge to 166% of GDP by 2054.

Senate Majority Leader Chuck Schumer expressed optimism that Congress can avert a shutdown if Democrats and Republicans collaborate effectively in his chamber.

Excel Magazine International believes, nevertheless, the expedited timeline heightens the risk of a temporary partial shutdown post the Friday midnight deadline, unless Schumer can strike a deal with Senate Republicans to hasten the bill’s passage.

House Speaker Mike Johnson, however, highlighted what he termed as a series of victories for Republicans, including increased spending for U.S. defense and border security, alongside the cessation of U.S. funding for the primary United Nations relief agency aiding Palestinians in Gaza.

Johnson emphasized that the FY24 appropriations legislation signifies a substantial commitment to strengthening national defense by refocusing the Pentagon on its core mission.

Democrats countered by asserting their success in blocking certain Republican cuts and policies, while championing funds earmarked for reducing childcare expenses, bolstering small businesses, and combatting the opioid fentanyl crisis.

Senator Murray, chair of the Senate Appropriations Committee, underscored the defeat of drastic cuts that would have adversely impacted American families and the economy, as well as thwarting numerous extreme policies.

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