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U.S. Senate agrees to increase federal spending by nearly $300 bln

The U.S. Senate yesterday agreed on a budget for two years and will bring up federal expenses by nearly $300 bln, trying to put an end to quarrels related to fiscal questions, which have long haunted lawmakers.

The deal would raise limits for defense financing and other government spending. Together with the reduction of taxes passed by the Congress a couple of months ago, this increase in expenditures would also enlarge the growing federal deficit.

Both chambers – the House and the Senate, which are controlled by the president’s Republican party, will need to adopt the deal, for it to subsequently be signed by Trump.

However the Democrats of the House have said that they would only vote for the agreement if Speaker Paul Ryan pledges to advance another bill on immigration.

The new bill should stop lengthy dispute between the parties over spending, said the leader of the Democrats in the Senate Chuck Schumer.

Following months of brinkmanship, this budget is the first sign of unity between the two parties, and it should discontinue the spending crises that have been a stumbling block for the Congress and hindered the middle class, he said.

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