(CLO) On the morning of December 21, the US Congress passed an important bill to prevent a government shutdown and avoid instability before the Christmas holiday.
The bill, which passed the House with overwhelming bipartisan support, was approved by the Senate just after the midnight deadline. President Joe Biden will sign the bill into law on December 21, ensuring the U.S. government will continue to operate. Lawmakers will continue to debate key financial issues such as the debt ceiling and spending priorities.
The final bill adds $100 billion in disaster aid and $10 billion in agricultural aid, while also keeping the government open to avoid disruptions to public services, from national parks to law enforcement. This could help mitigate the economic damage, especially in the tourism industry, where a government shutdown could cost up to $1 billion a week.
US Capitol Building. Photo: Unsplash
This is part of an emergency effort to maintain the operations of the US federal government, provide funding for state operations and provide aid to communities affected by natural disasters. The bill would extend the current funding for the US government through March 14.
Although the bill has received support from a majority of lawmakers, the deal has endured a tense week, with interference from President-elect Donald Trump and billionaire Elon Musk, who have significantly influenced the bill's drafting and passage.
Mr Trump, who was unhappy with the lack of a debt ceiling provision, had pressured lawmakers to include it in the deal, although it was not accepted by Republicans and Democrats alike.
The failure to reach a broad bipartisan agreement as initially expected also reflects the difficulties Republicans will face in governing when they take control of both the White House and Congress in January.
The failure to pass a previous 1,500-page bill had created a rift among Republicans, who were unable to agree on spending and the debt ceiling. However, after removing the requirement to raise the debt ceiling, the bill eventually passed 85-11 in the Senate and 366-34 in the House.
Ngoc Anh (according to Reuters, CBS News)
Source: https://www.congluan.vn/thuong-vien-thong-qua-du-luat-ngan-sach-ngan-chan-viec-dong-cua-chinh-phu-my-post326816.html
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