Why Biden Signs $1.2 Trillion Spending Bill into Law""
By Reuters:
On Saturday, President Joe Biden put pen to paper and officially signed a $1.2 trillion spending package into law, ensuring the continued funding of the U.S. government for the remainder of the fiscal year, which began six months ago.
Following Congress's overwhelming approval in the wee hours of Saturday, President Joe Biden hailed the $1.2 trillion spending package as a significant investment in Americans, emphasizing its role in bolstering the economy and national security. In urging further legislative action, Biden called on the House to pass additional bipartisan bills, including a national security supplemental and border security reforms. The Senate, with a Democratic majority, passed the spending bill by a vote of 74-24, ensuring funding for key federal agencies like Homeland Security, Justice, State, and Treasury until September 30.
However, notable exclusions from the bill, such as military aid to Ukraine, Taiwan, and Israel, are part of a separate Senate-passed bill that the Republican-led House has yet to address. Despite these nuances, the business community embraced the passage of the spending bill, expressing commitment to collaborating with policymakers on initiatives aimed at enhancing tax breaks for businesses and low-income families.
Business Roundtable CEO Joshua Bolten underscored the importance of a fully operational U.S. government in providing stability for American businesses, workers, and families, while also advocating for the advancement of sound policies like the Tax Relief for American Families and Workers Act.
On Friday, Senate leaders engaged in lengthy negotiations over several proposed amendments to the budget bill, all of which were ultimately voted down, causing a delay in its passage past the midnight deadline.
However, the White House Office of Management and Budget assured that agencies would not be instructed to shut down, expressing confidence that the Senate would soon pass the bill, which it eventually did. Despite the successful passage, the deep partisan divisions in Congress were once again glaring, leading to bitter disagreements within the Republican-controlled House.
Representative Marjorie Taylor Greene even threatened to challenge Speaker Mike Johnson, a fellow Republican, for allowing the bill to proceed. The extensive 1,012-page bill allocates $886 billion for the Defense Department, including provisions for a raise for U.S. troops. Speaker Johnson, employing a parliamentary tactic for the 60th time since taking office, circumvented opposition within his party, allowing the bill to pass with a vote of 286-134, garnering more Democratic support than Republican.
With the government funded through a series of short-term measures over the past six months, concerns about the nation's creditworthiness have been raised by ratings agencies, given the looming $34.6 trillion federal debt. Republican Senator Susan Collins, a key negotiator, emphasized the bill's significance as a national security measure, highlighting its substantial investment in military readiness, personnel benefits, and support for allies.
Republican Rep Greene's Fiery Critique Rocks Capitol Hill"
Greene, a staunch conservative, expressed her discontent after the new budget bill passed the House with 185 Democratic and 101 Republican votes, leading her to introduce a measure aimed at removing Speaker Johnson from his position.
This action mirrored a similar incident in October when a group of hardliners orchestrated a vote to remove McCarthy for collaborating with Democrats on a stopgap measure to prevent a government shutdown. Tensions had been brewing since June, when McCarthy aligned with Biden on the fiscal 2024 spending plan, which was ultimately approved on Friday.
McCarthy's removal halted House proceedings for three weeks as Republicans grappled with selecting a new leader, an episode many hoped to avoid as the November election approaches. Greene clarified that while she submitted a motion to vacate, it served more as a warning than an immediate call for Johnson's dismissal, indicating a potential for further internal discord within the Republican party.
