Focus on US Immigration, focus on US News: On the 10th (local time), the US congressional budget negotiation group announced that it had reached a federal government budget agreement for the next two fiscal years. If passed by Congress, this plan will avoid the risk of another federal government shutdown on January 15th next year.
This negotiation was led by Paul Ryan, Chairman of the House Budget Committee, and Patty Murray, Chairwoman of the Senate Budget Committee. The agreement announced that day set a government budget of $1.012 trillion for fiscal year 2014 and $1.014 trillion for fiscal year 2015. According to Ryan and Murray, the final figures represent a compromise between the numbers proposed by the Senate and the House of Representatives.
President Obama issued a statement that evening welcoming the budget agreement, stating: "This is a good first step toward preventing another government 'shutdown,' showing that Democrats and Republicans in Congress can work together to break the cycle of short-sighted, crisis-driven decision-making and finally reach an agreement."
Over the next two years, the agreement will provide $63 billion in funding to subsidize defense and non-defense program spending, offsetting cuts forced by the automatic sequestration mechanism. The agreement also contains dozens of provisions aimed at deficit reduction, with total deficit reduction estimated to be between $20 billion and $23 billion. Although legislators from both parties still have objections to some details of the agreement, overall, they welcomed the deal.
Republican Congressman Adam Schiff: "I am glad we reached an agreement; it avoids another fiscal cliff and also avoids economic shocks."
Under this agreement, federal government employees will be required to contribute more toward their own pensions. In addition, the agreement will increase federal security fees, which will increase the cost of round-trip air travel by $5. Republican Congressman Tim expressed concern that prices would rise.
Tim: "Future spending will continue to rise, and we Republicans are particularly concerned about whether too much money is being spent. Based on the agreement reached by both parties and the scale of spending, I still feel that future spending will be higher."
This agreement still requires a vote in Congress and the signature of President Obama to take effect.
