As the deadline to avoid a government shutdown approached, House lawmakers reached a spending agreement to avert the potential crisis.
Recently elected House Speaker Mike Johnson (R) stated that the new bill would add $16 billion in spending cuts. The cuts build on last year's negotiations between President Joe Biden (D) and former speaker Kevin McCarthy (R).
“It reflects the funding levels that I negotiated with both parties and signed into law last spring. It rejects deep cuts to programs hardworking families count on, and provides a path to passing full-year funding bills that deliver for the American people and are free of any extreme policies,” said the president.
Speaker Johnson had similar thoughts on the bill as he expressed his pleasure with how the resolution turned out.
“This represents the most favorable budget agreement Republicans have achieved in over a decade,” said Rep. Johnson.
The bipartisan bill marks a nice shift in negotiations between the parties. Last year, several bills were held hostage because of faction-led dissensions.
In June 2023, multiple House Republican legislators, known under the title the “Freedom Caucus" prevented four bills, including two GOP bills, from reaching the House floor.
The GOP bills would have addressed the Biden administration’s policies aimed at limiting the use of gas stoves. However, the rebellious members of Congress had other plans in mind.
Many of the House GOP members stated they were upset with McCarthy for not meeting some of their demands and for negotiating with President Biden. However, presidential negotiations have remained in use by the current speaker. It appears that the new spending bill has been well-received by both parties.
The bill does include several measures that may appear questionable to some. The spending cuts agreed upon in the deal include nearly $20 billion in cuts to the IRS and takes back $6 billion in COVID relief funds.
