US Congress reaches deal that may prevent govt shutdown
WASHINGTON: United States Congressional leaders have reached a deal on a federal spending bill which, if passed by lawmakers this week, would avert a government shutdown, said a top lawmaker and Congressional aides late on Sunday.
The agreement would keep federal operations running through September 30, the end of the fiscal year.
Congress was expected to vote in the coming days on the package, which aides said included US$1.5 billion (RM6.6 billion) in funding for increased border security measures, but no funding for an actual wall.
They said it added US$2 billion in new funding for the National Institutes of Health, and was expected to increase military spending.
Lawmakers have until Friday to get new spending legislation to President Donald Trump’s desk.
“This agreement was a good agreement for the American people, and takes the threat of a government shutdown off the table,” said Senate Minority Leader Chuck Schumer.
“The bill ensures taxpayer dollars aren’t used to fund an ineffective border wall, excludes poison pill riders, and increases investments in programmes that the middle-class relies on, like medical research, education, and infrastructure.”
Meanwhile, the Trump administration’s push to overhaul tax laws might soon target a loophole used by some financial managers to lower tax rates, said White House chief of staff Reince Priebus on Sunday.
Trump campaigned before the election to eliminate the so-called “carried interest” loophole, which is used by many financial managers to lower tax obligations. But a rough outline for a major tax overhaul released last week failed to mention the loophole.
Priebus, however, hinted that carried-interest could be on the chopping block and warned against analysts taking the view that financial managers would keep on benefiting from it. Agencies
President Donald Trump