President Joe Biden signed a bill into law on Saturday that will keep the government operating at current levels through March 14. The deal includes $100 billion in disaster aid and $10 billion in agricultural assistance for farmers.
The funding plan was approved by Congress just past the deadline, following days of turmoil in Washington. House Speaker Mike Johnson had insisted that lawmakers would not allow federal operations to close, but ultimately accepted a compromise with President-elect Donald Trump’s demands largely intact.
Biden hailed the agreement as “good news for the American people,” saying it ensures the government can continue to operate at full capacity. However, the outcome was uncertain until the final hours of the tumultuous week, when Johnson announced that the shutdown would be avoided.
The deal marks a significant shift in power dynamics between Trump and Congress, with the new president-elect exerting influence over legislative affairs despite being out of office. The agreement also reflects the growing reality of divided government, with Republicans having an extremely narrow majority in the House.
The federal debt stands at $36 trillion, with lawmakers agreeing to raise the debt ceiling as part of a larger tax and border package. However, the deal is smaller than Trump’s original proposal, which included an increase in the borrowing limit.
Despite the compromise, some Republican leaders are signaling unhappiness with Johnson’s leadership, and the House will elect its next speaker on January 3, 2025. The outcome raises questions about whether Johnson can maintain his position as Speaker despite a narrow majority.
Source: https://apnews.com/article/government-shutdown-disaster-aid-debt-limit-trump-5a78b3c8c7aedc9384842fae83d78f5b