House Republicans Reach Deal on Government Funding and Debt Limit
House Republicans have struck a deal on a plan to avert a government shutdown by Friday’s deadline. The agreement includes extending current government funding levels for three months and suspending the debt limit for two years, a key demand of President-elect Trump.
The deal also includes aid for farmers, $110 billion in disaster relief funding for Americans affected by storms Helene and Milton, and certain healthcare provisions. However, it does not include reforms to the Pharmacy Benefit Managers (PBMs) system, which some Republicans and Democrats had been pushing for.
President-elect Trump praised the deal, saying “Speaker Mike Johnson and the House have come to a very good deal for the American people. The newly agreed to American Relief Act of 2024 will keep the government open, fund our great farmers and others, and provide relief for those severely impacted by the devastating hurricanes.”
The deal comes after a group of conservatives, including Elon Musk and Vivek Ramaswamy, opposed an earlier bill, leading to fears of a partial government shutdown. The new agreement is expected to be voted on as early as Thursday evening, but it is unclear if it will pass.
House leaders released the legislative text of the bill, which is 116 pages long, a significant reduction from the original 1,547-page legislation. The national debt has surpassed $36 trillion and continues to grow, with a deficit over $1 trillion.