Deal Set on US Agency Funding, Congress Rushes to Finalize Bill Language

• The U.S. Congress on Tuesday laboured against a tight deadline to write a massive bill, funding military, homeland security and a range of other government programs following a deal reached by congressional leaders and the White House. Failure to act by midnight Friday would mean that many federal offices will be ordered to begin shutting down some operations.
• The package was expected to cover about three-quarters of the $1.66 trillion in discretionary government spending for the fiscal year ending Sept. 30. The last sticking point in closed-door negotiations was funding for the Department of Homeland Security, as a surge in migrants at the U.S.-Mexico border has become a significant issue in the election rematch between Democratic President Joe Biden and his Republican predecessor Donald Trump.
• It was unclear whether a fifth stop-gap funding bill since September might be sought to keep federal agencies operating seamlessly until the large bill can be enacted into law. President Biden promptly welcomed the deal, posting on X: "The House and Senate are now working to finalise a package that can quickly be brought to the floor, and I will sign it immediately."
• In addition to Homeland Security and the Pentagon, the bill would fund the State Department and other agencies, including the Treasury Department's Internal Revenue Service as it prepares for its April 15 taxpayer filing deadline. Earlier this month, Congress funded several other agencies, including the Agriculture, Transportation, Justice and Interior Departments.
• However, more fights lie ahead as the nation's $34.5 trillion national debt grows. Biden and House Republicans earlier this month laid out proposed budgets for the next fiscal year, which begins in October, which offered sharply contrasting priorities.

(Source: Reuters)