WASHINGTON (AFP) – US President Donald Trump said on Monday (July 22) that a “compromise” bipartisan budget agreement has been reached that will boost federal spending by billions of dollars and suspend the debt limit beyond the next presidential election. Trump tweeted that the deal was struck between the White House and the top Democratic and Republican leaders in both chambers of Congress “on a two-year Budget and Debt Ceiling, with no poison pills”, which could have otherwise derailed the legislation. The agreement raises the discretionary spending caps for fiscal years 2020 and 2021, pairing it with a suspension of the statutory debt ceiling until the end of July 2021, nearly nine months after the 2020 election. “This was a real compromise in order to give another big victory to our Great Military and Vets!” Trump added. The agreement has faced resistance from conservative Republicans who oppose adding hundreds of billions of dollars in additional spending to the US debt. Democratic leaders hailed it as a victory for securing robust funding for critical domestic priorities, describing the deal as the largest-ever increase in base funding above the so-called sequestration levels set forth in a 2011 law. “With this agreement, we… Read full this story
- Trump says Cohen hearing may have hurt North Korea summit
- John Simpson: Expect negative results if no deal reached on Brexit
- Second EU referendum needed even if Brexit deal reached – Russell
- Pressure grows to release full Mueller probe as Trump says ‘Russia hoax is dead’
- Trump says he is in the clear after report is published
- May gathers Cabinet as Barnier says no deal more likely by the day
- Trump says he has not seen or read the Mueller report: 'I won'
- Ireland's vice-president of EU Parliament says no-deal Brexit would result in 'backstop 2'
- Hammond says Brexit deal referendum ‘credible’ as delay bill passes by one vote
- Trump says he's in 'no rush' to reach deal at nuclear summit
Trump says bipartisan deal reached on budget, debt ceiling have 321 words, post on www.straitstimes.com at July 22, 2019. This is cached page on Asean Breaking News. If you want remove this page, please contact us.