Congress has reached a spending deal to avoid a government shutdown, setting funding levels for 2024, and addressing the border crisis and impeachment probes.
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What are the funding levels set for 2024?
What are the funding levels set for 2024?
Congress has reached a deal on how much to spend for 2024 as the shutdown deadline nears.
The overall spending level for fiscal year 2024 is set at $1.59 trillion.
This reflects the bipartisan budget deal struck last year by President Joe Biden and then-Speaker Kevin McCarthy.
The breakdown of the spending is $886 billion for the military and $704 billion for nondefense spending.
There will be "key modifications" to the agreement to reduce nonmilitary spending with a $16 billion "offset."
The modifications include using $6.1 billion in unused Covid funds and $10 billion in IRS money under the Inflation Reduction Act.
The nondefense discretionary spending level will be $772.7 billion in the new fiscal year under the deal.
The agreement still faces challenges in Congress, and it remains unclear whether lawmakers will be able to quickly pass legislation averting a government shutdown.
The House and Senate now have less than two weeks to craft underlying bills funding the government.
Congress has reached a deal on how much to spend for 2024 as the shutdown deadline nears.
The deal establishes an overall spending level of $1.59 trillion in fiscal year 2024, with $886 billion allocated for the military and $704 billion for nondefense spending.
The deal includes $20.2 billion in IRS cuts spread over two years, which will now happen over one year instead.
There will be key modifications to the agreement to reduce nonmilitary spending with a $16 billion offset, including $6.1 billion in unused Covid funds and $10 billion in IRS money under the Inflation Reduction Act.
The nondefense discretionary spending level will be $772.7 billion in the new fiscal year under the deal.
Some conservatives, such as the House Freedom Caucus, have criticized the deal, calling it a "total failure" and expressing dissatisfaction with the spending levels.
Conservative hard-liners have threatened a shutdown unless Congress acts to toughen immigration and asylum laws by the funding deadline.
President Biden has praised the agreement and called on congressional Republicans to fulfill their responsibility to fund critical domestic and national security priorities.
The spending deal is worth $1.59 trillion in fiscal year 2024.
The breakdown of the spending is $886 billion for the military and $704 billion for nondefense spending.
There will be "key modifications" to the agreement to reduce nonmilitary spending by $16 billion, including using $6.1 billion in unused Covid funds and $10 billion in IRS money.
Including the nondefense spending adjustments, the total spending level is $1.644 trillion.
Some conservative hard-liners have criticized the deal and threatened a shutdown unless Congress toughens immigration and asylum laws.
President Biden praised the agreement, stating that it reflects the funding levels negotiated with both parties and signed into law last spring.
What are the potential consequences of a government shutdown?
What are the potential consequences of a government shutdown?
A government shutdown could occur if Congress fails to reach a spending agreement by the deadline.
The recent deal on spending levels is a significant step towards avoiding a shutdown, but the threat still remains.
If a shutdown were to happen, some parts of the government would run out of money, leading to disruptions in services and operations.
Essential services such as national security, law enforcement, and public health would continue, but nonessential services could be affected.
The economy could also be impacted, with potential delays in government contracts, reduced consumer confidence, and financial uncertainty.
Additionally, a government shutdown can have political consequences, with public frustration and a negative perception of the government's ability to function effectively.
It is important for congressional Republicans to fulfill their responsibility to fund critical domestic and national security priorities to prevent a shutdown.
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