Washington: The US House of Representatives on Wednesday passed a bipartisan, two-year budget deal that boosts federal spending by $80 billion, reduces a government shutdown threat and raises the debt ceiling through the end of Barack Obama's presidency.
Nearly 80 Republicans joined a united front of Democrats in favor of the legislation, which passed 266 to 167.
The deal is the result of weeks of secret negotiations between the White House and outgoing House Speaker John Boehner, who has stated his desire to clear the decks of any fiscal crises before his successor takes the gavel.
Congress must raise the federal borrowing limit by November 3, or risk Washington ending up in default.
The bill now goes to the Senate where it is expected to pass, effectively bringing to a close a series of fiscal fights as the two parties gear up for the 2016 presidential race.
Republican and Democratic lawmakers fought several battles over borrowings between 2011 and 2014 that roiled financial markets, caused an unprecedented downgrade of the country's triple-A debt rating by Standard & Poor's, and forced a partial government shutdown for 16 days in 2013.
"This agreement is by no means perfect, but on balance it's a good agreement for our troops, for taxpayers, and for the American people," Boehner said in a statement.
The legislation raises federal spending caps by some $80 billion until September 30, 2017, with funding split between domestic programs and the military.
Another roughly $31 billion in "contingency operations" funding would go to the Pentagon, offset by tweaks to entitlement programs including Social Security.
AFP
