US Budget deal passes

The House passed the bill on a 266 to 176 vote Wednesday afternoon

The House has passed a budget bill with a 266 to 167 vote, promising to move the bill quickly through the upper chamber.

LOS ANGELES, CA (Catholic Online) - Budget battles between congressional Republicans and President Obama will disappear with the agreement, which will appear in the next round of fiscal decision-making with a new Congress and President.

House Republican leaders released the proposal earlier this week and conservatives were immediately angered by the secretive negotiations leading to the policies within the bill.

Part of the upset was due to the $80 billion in new discretionary spending which was offset by mandatory spending cuts and increased revenue.

Some Republicans raised concerns about the $4 billion that fall short of the $80 billion goal, but the Congressional Budget Office reported changes to the legislation took care of the missing amount.

Mac Thornberry, House Armed Services Committee Chairman, said the bill's passing would benefit the military and prevent another shutdown. He stated, "It stops the cuts in defense, it increases the money going to our troops and it prevents them from being used as a bargaining chip in the future."

"I think that is the sort of stability and predictability they need and that they deserve," he added.

Only 79 House Republicans voted for the deal and 187 Democrats supported it.

The agreement is supposed to lift sequester spending caps to increase discretionary spending by nearly $80 billion over a two-year period, equally split between defense and domestic programs. To offset the cost, there have been changes to Medicare and Social Security, spectrum controlled by the government has been auctioned off, crude oil from the Strategic Petroleum Reserve will be sold and business partnership tax rules will be tightened.

The legislation will also limit premium increases for some Medicare Part B beneficiaries next year for services like doctor visits and hospital care. It will also prevent Social Security Disability Insurance cuts at 20 percent across-the-board by transferring funds from the main Social Security fund and by instituting program changes.

The changes should cut costs and allow some recipients who still work to receive partial payments. Another cost-saving change is the requirement of a second medical expert to determine whether someone is disabled or not.

The Treasury Department has estimated the deadline for raising the debt ceiling is November 3.

Despite Presidential candidate Sen. Rand Paul's claim he will filibuster the bill, the agreement will have to earn at least 60 votes before it can be approved by a simple majority and at most, Paul would only briefly delay the final vote.

The final Senate vote can come as early as this week if the bill is rushed through the upper chamber.

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