Congress Approves Spending Bill Six Months Into Fiscal Year | ORBITAL AFFAIRS

- Advertisement -

Congress Passes $1.2 Trillion Spending Package to Keep Government Funded

Key Takeaways

  • Congress passed a spending package early Saturday morning that will keep the federal government funded through Sept. 30.
  • The bill was passed after the midnight shutdown deadline but had no effects on operations.
  • The path to passing this bill included four stopgap measures before completing full government funding over nearly six months.
  • Appropriations bills that make up federal spending are supposed to be passed by the beginning of the fiscal year in October under law, but that rarely happens.

Despite missing their midnight deadline, Congress has approved a spending package that keeps the federal government fully funded through Sept. 30. The Senate voted 74-24 to pass the bill around 1 a.m. Eastern Time and President Joe Biden has said he will sign it when it comes to his desk. The House of Representatives had passed the spending package around midday Friday. By passing this bill, Congress avoided a government shutdown, which would have likely damaged the U.S. economy.

- Advertisement -

Congress passed four stopgap measures before fully funding the government, and this bill passed six months after the start of the fiscal year. It funds 70% of the government including Defense, Homeland Security, Labor, Health and Human Services, Education, State departments. The rest of the funding was approved in early March.

- Advertisement -

Working against a shutdown deadline has become the norm for Congress members in recent years. While appropriations bills that make up federal budgets are supposed to be passed by the beginning of the fiscal year in October under law, that rarely happens. The last time the budget was passed on time was 27 years ago and has only happened four times total since 1977, according to Pew Research Center.

This also isn’t the latest a federal budget has been passed. In 2017, appropriation bills weren’t passed in full until May.

Implications of the Spending Package

The $1.2 trillion spending package will have significant implications for various sectors of the government. With funding secured for Defense, Homeland Security, Labor, Health and Human Services, Education, and State departments, essential services will continue without interruption.

- Advertisement -

Additionally, the passing of this bill provides stability and certainty for government agencies and employees who rely on federal funding for their operations. It also ensures that critical programs and services can continue to support the American people without disruption.

Challenges Faced by Congress

The challenges faced by Congress in passing a comprehensive spending package highlight the complexities of the budgeting process and the political dynamics at play. The need for multiple stopgap measures and the delay in passing a full funding bill underscore the difficulties in reaching consensus on budgetary matters.

Furthermore, the recurring issue of missed deadlines and last-minute negotiations reflects a broader trend of budgetary inefficiencies within the legislative process. Addressing these challenges will require bipartisan cooperation and a commitment to timely and effective budget planning.

Looking Ahead

As Congress moves forward with implementing the $1.2 trillion spending package, it will be essential to monitor the impact of this funding on government operations and services. Additionally, efforts to streamline the budgeting process and improve fiscal responsibility will be crucial in ensuring efficient and effective governance.

By addressing these challenges and working towards bipartisan solutions, Congress can enhance its ability to fulfill its fiscal responsibilities and meet the needs of the American people. The passing of this spending package represents a significant step towards ensuring stability and continuity in government operations.

Read the original article on Investopedia.

News Desk

- Advertisement -

Explore more

Films Like “Alice in Wonderland” | ORBITAL AFFAIRS

In this realm world of entertainment on the landscape of the different genres of captivating series and movies, one of the enthralling movies that...
Josh Lucas's Wife: Love in the Park | ORBITAL AFFAIRS

Josh Lucas’s Wife: Love in the Park | ORBITAL AFFAIRS

Introducing Josh Lucas’s wife, Brianna Ruffalo, who has made headlines not only for her relationship with the actor but also for her candid opinions...

“Interest of Love Ending Explained: How Does It Conclude?” | ORBITAL...

Love watching romantic narrative movies or series that define the emotional landscape of love and relationships? Nowadays, people keep speculating about a famous South...
Remembering Calla Johnson: The Tragic Loss of a TikTok Sensation

Remembering Calla Johnson: The Tragic Loss of a TikTok Sensation

Johnson, known as The Traveling Mermaid on TikTok, tragically passed away on March 15, as confirmed by her sister. With a vibrant online presence,...

Goldman Warns of Office Mortgage Delinquencies on the Rise | ORBITAL...

The Challenges Facing Commercial Office Properties and Loans Key Takeaways: - Office properties remain the biggest pain point among commercial real estate loans. - Mounting loan stress...

Games Similar to Cuphead | ORBITAL AFFAIRS

Few titles are engaged in captivating players with their unique blend of narrative and challenging gameplay quite like Cuphead. If you are a gaming...
Hadley Vlahos: Life After Divorce | ORBITAL AFFAIRS

Hadley Vlahos: Life After Divorce | ORBITAL AFFAIRS

Amid the challenging process of divorce, Hadley Vlahos is bravely opening up to her followers about her journey of overcoming adversity. With courage and...

Why Did Other Countries Cut Interest Rates? | ORBITAL AFFAIRS

Global Central Banks Make Moves: A Look at Interest Rate Decisions Key Takeaways Central banks in Switzerland and Mexico cut interest rates...