House Budget Agreement

WASHINGTON – A divided House of Representatives on Thursday passed a two-year budget deal that would increase spending by hundreds of billions of dollars over existing ceilings and allow the government to continue borrowing to cover its debt, as budget conservatives mutter about the measure`s impact on the budget deficit. Analysis: Trump`s 2020 Budget: The Top 10 Takeaways “The CR is a recognition of failure,” Hoyer said. It`s not an individual failure, it`s not bad, it`s just that we had a hard time meeting and reaching an agreement. The agreement also rejects the president`s harmful budget philosophy. The Trump budget would cut NDD funding by 9% by 2020 from 2019 levels and require deep cuts to programs essential to our economic and national security. Instead, the budget agreement provides for a $22 billion increase in defence and a $27 billion increase for NDDs by 2020, while recognizing that both are important to the security and prosperity of our country. “We are closing in on $23 trillion in debt, and the recent multi-party “deal” would continue to push us down the dangerous and unsustainable path we are taking,” the Rep noted. Jeff Duncan, SAR. C, in a statement after the vote. “We cannot continue to apologize as we pass on these debts to our children, while ruthlessly throwing the budget out the window.” The House of Representatives on Thursday passed a two-year comprehensive budget agreement that increases spending on military and national programs and suspends the debt ceiling until mid-2021 and sends White House-backed legislation to the Senate.

The House of Representatives, with limited Republican support, on Thursday passed a massive budget deal that would free lawmakers to campaign next year without getting angry at the fiscal turmoil they held in Washington. “I joined the Appropriations Committee because it`s the best place to give more people a better chance at a better life,” said Appropriations President Nita M. Lowey (N.Y.D.) as she celebrated larger budgets for Head Start, the National Institutes of Health, the Environmental Protection Agency and more. “With this bill, we kept that promise by making historic investments for people.” Supporters have called the legislation a signal of a divided government, a compromise with something that everyone can love or hate. Democrats prosaed domestic spending increases; Republicans have referred to the growth of the Pentagon`s budget. In the absence of congressional action, the statutory discretionary funding caps will impose an 11 percent reduction in defence and a 9% reduction in non-defence (NDD) programs by 2020 compared to the amounts allocated in 2019. Such deep cuts would have devastating effects on national security and the economic vitality of the United States. The budget agreement replaces these destructive cuts with a realistic fiscal framework to allow Congress, through its annual budget projects, to invest critically in our country`s infrastructure and people.

Some White House officials, particularly Acting Chief of Staff Mick Mulvaney and Acting Budget Director Russell Vought, had spoken out in favour of tougher measures to cut spending, but had not won. Mnuchin focused on raising the debt ceiling and a dramatic process he hoped would not hurt the economy, and he convinced Trump to support the law. The agreement prevents automatic spending cuts, known as sequestration, from coming into force under the 2011 Budget Control Act. The deal between then-President Barack Obama and Republicans in Congress, including the Congress of Deficit Hawks and current White House Chief of Staff Mick Mulvaney, must now meet federal spending in 2021.