Trump Announces Congress, White House Reach Agreement on New Budget Deal, Two-Year Debt Ceiling

The new budget deal will increase U.S. discretionary spending in 2020 fiscal year to $1.37 trillion, an increase from $1.32 trillion in 2019, according to reports. The deal brings the nation closer to avoiding steep spending cuts and defaulting on its debt, as well as averting another government shutdown when current funding plans end after September 30 of this year. Senate Majority Leader Mitch McConnell (left), Senate Minority Leader Chuck Schumer, (right), photo credit: C-SPAN.

WASHINGTON – President Donald Trump announced via Twitter Monday that the White House and Congress had agreed on a deal for a new budget deal and two-year debt ceiling, with lawmakers eager to set a new spending plan in place prior to their August recess.

Trump issued the following tweet on the matter, calling the deal a “real compromise” that would benefit the nation’s military and veterans:

“I am pleased to announce that a deal has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi, and House Minority Leader Kevin McCarthy – on a two-year Budget and Debt Ceiling, with no poison pills….This was a real compromise in order to give another big victory to our Great Military and Vets!”

The new budget deal will increase U.S. discretionary spending in 2020 fiscal year to $1.37 trillion, an increase from $1.32 trillion in 2019, according to reports. The deal brings the nation closer to avoiding steep spending cuts and defaulting on its debt, as well as averting another government shutdown when current funding plans end after September 30 of this year.

However, it’s not all good news; Congress still must pass separate appropriations bills. While the deal has many supporters, some conservatives have balked at the deal for not cutting spending enough. However, with Trump’s support – as well as that of Republican congressional leaders – it is expected to lure enough naysayers in their party to allow the deal to pass and become law. 

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