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House Approves Budget Deal, Senate to Vote Next Week

Capitol_BuildingThe House voted 332-94 Thursday to approve a bipartisan budget deal that sets spending levels for the next two years and avoids the possibility of a government shutdown until October 2015, Reuters reported Friday.

David Lawder and Richard Cowan write the proposed budget also increases spending on agencies and discretionary programs by $63 billion over the next two years, scaling back the across-the-board sequestration cuts.

Senators are set to vote on the proposal next week ahead of the Christmas recess and Reuters reports the bill is expected to pass.

Other budget savings are intended to occur in lieu of the sequester, according to Reuters.

The deal also does not address the country’s debt ceiling as the U.S. could reach that limit by February or early spring, Lawder and Cowan report.

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