Republicans and Democrats reach agreement to avoid U.S. government shutdown

Congressional Republicans and Democrats have reached an emergency budget agreement worth $1.66 trillion to fund the federal government for 2024. The pact was jointly announced last night by Democratic Senate Majority leader Chuck Schumer and Republican House Speaker Mike Johnson.

While the final details have not been disclosed, the agreement includes allocations of $886.3 billion for defense spending and $772.7 billion for domestic programs, similar to those negotiated last June between the White House and then-House Speaker Kevin McCarthy.

As explained by Johnson in a letter to Republican representatives, the pact includes "over $16 billion in additional cuts" compared to the initial proposal. However, he acknowledged that the final spending levels "will not satisfy everyone."

President Biden, for his part, described it as a "responsible agreement" that protects "important national priorities" and avoids an "unnecessary government shutdown," as federal funds are set to expire on January 19.

Now, the agreement will need to be ratified by the entire Congress, where it could face opposition from the right-wing faction of the Republican Party in the House, who advocate for further spending cuts. Their vote will be crucial to pass the budget and avoid a government shutdown.