WASHINGTON: Congressional leaders have eventually reached an agreement to keep the government funded until early March, western media reported on Sunday.
Announcement of the offer comes just before January 19 and February 2 deadlines, when federal departments would have run out of funds in the two-tranche approach, AFP reported.
The short-term bill, also called a continuing resolution, will keep the US government open until March 1st and 8th, the source said — giving legislators time to agree on huge budget and spending details.
The continuing resolution will need to be approved by the Senate and the House of Representatives for the country to avert a government shutdown.
US Congress Leaders Agree on Agreement to Avert Govt. Shutdown
Last weekend US legislators announced they had come to a deal on fiscal year 2024 funding totals, establishing a about $1.6 trillion “topline” federal government spending limit.
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That agreement, announced by Republican House Speaker Mike Johnson and Democratic leaders in the House, includes an increase in defense spending to $886 billion and $773 billion for non-defense discretionary funding.
Stop-gap funding steps are often used to keep the government open amid frequent political quarrels over how to spend fund and tackle rising domestic debt.
