🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

U.S. Senate prepares to vote on deal reached on $1.2 trillion funding bill

Published 03/23/2024, 12:59 AM
Updated 03/23/2024, 01:00 AM
© Reuters. FILE PHOTO: Tourists walk near the U.S. Capitol in Washington, U.S., February 9, 2024. REUTERS/Nathan Howard/File Photo

WASHINGTON (Reuters) - The U.S. Senate was preparing to vote early on Saturday on final passage of a bill providing $1.2 trillion to avoid a partial government shutdown, after Majority Leader Chuck Schumer announced a deal just before a midnight deadline.

The Senate was quickly working its way through a series of proposed amendments - all of which were expected to fail - before casting votes on passing the bill, which was approved on Friday in the House of Representatives.

If successful, as expected, the Senate would dispatch the 1,012-page bill that includes funding for the Defense, Homeland Security and other federal agencies to President Joe Biden for signing into law.

After a long day of negotiations between Senate Democrats and Republicans over amendments that could be offered, the Senate failed to meet the Friday midnight deadline for approving the massive bill. Temporary funding was expiring at that deadline.

© Reuters. FILE PHOTO: Tourists walk near the U.S. Capitol in Washington, U.S., February 9, 2024. REUTERS/Nathan Howard/File Photo

But the White House Office of Management and Budget promptly announced that it would cease plans for shutting federal agencies given its confidence in the Senate's ability to approve the full funding for about two-thirds of government programs for the rest of the fiscal year, ending on Sept. 30.

Earlier this month Congress approved funding for the other one-third of discretionary programs.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.