House Passes Two-Year Spending Caps and Debt Limit Deal
Yesterday, the House passed a two-year spending caps and debt limit deal that will keep automatic spending cuts from kicking in.
The bill increases the FY2020 and FY2021 discretionary spending limits for defense and non-defense spending by nearly $324 billion over two years, suspends the debt limit through July 31, 2021, and modifies budget enforcement procedures.
The Senate is expected to vote on the bill next week before they leave for August recess. The bill is expected to pass the Senate before it moves to the President’s desk for signature. President Trump has expressed support for the package. The passage of this bill will pave the way for the Congress to pass appropriations bills for FY 20 and 21. The House has already passed several spending bills for FY 20, including a bill to fund EPA, however, Senators have been waiting for these top-line numbers to solidify before developing their spending bills.
