Republicans and Democrats, over the course of the night, have found a bipartisan agreement on the budget, the finance law of the United States. The agreement had failed too many times, causing America to lose billions of dollars and leading the country to shutdown last October, the partial closure of the federal government due to lack of funds. A 'ceasefire', as the New York Times defines it, which provides for an increase in spending by the Pentagon and federal agencies covered by a funding of 63 billion dollars in both 2014 and 2015.
The money will come from increased airport taxes, cuts in federal employee and military pensions, and increased federal insurance premiums, among other things. In this way, the federal government's discretionary spending target will be raised to $1.012 billion for 2014 and $1.014 billion for 2015, removing the specter of the sequester, the automatic spending cuts that are triggered if Congress is not able to able to finalize a comprehensive plan of deficit cuts.
The latter, according to the agreement, will be cut by 85 billion dollars over the next 10 years. In a statement released by the White House, President Barack Obama expressed his satisfaction with the bipartisan agreement: 'It represents a positive first step'. Now the Senate and House will vote on the draft between the end of this week and the beginning of next. Failure to implement the finance law would lead to a new shutdown on January 15th, when the funds allocated in extremis last October will run out.
