17 March | Dollar

US Senate passes stopgap funding bill to avert government shutdown

US Senate passes stopgap funding bill to avert government shutdown

Reuters reports that the US Senate passed a bill on funding the federal government through September 30 on Friday, averting a shutdown.

Earlier, the leader of Democrats in the Senate Chuck Schumer intended to vote against the spending plan proposed by Republicans. However, according to the politician, the shutdown of the country's government would have more negative consequences than the adoption of the bill, as US President Donald Trump and his senior advisor Elon Musk were rapidly cutting federal spending.

The bill will reduce spending by about $7 billion from last year's levels. Defense spending will increase by $6 billion, while funding for non-defense programs will decrease by $13 billion, the agency said.

Congressional Republicans will now turn their attention to extending the 2017 tax cuts, increasing funding for border security and cutting spending in other areas, which Democrats warn could jeopardize the health care program for low-income Americans, Reuters reported.

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