Key Senate Committee Unveils Bill To Avoid Government Shutdown - InvestingChannel

Key Senate Committee Unveils Bill To Avoid Government Shutdown

Member of the Senate Appropriations Committee unveiled legislation Monday to fund the government through the end of the fiscal year and avoid a shutdown.

The unveiling of the bill from the Appropriations Committee comes after the Republican-controlled House voted 267 to 151 in favor of their version of the continuing resolution last Wednesday.

Fifty-three Democrats joined with the vast majority of Republicans in approving the House version of the legislation, while 137 Democrats voted against the bill.

The continuing resolution extends government funding at existing levels, although that includes the impact of the automatic spending cuts that went into effect at the end of last month.

While the House version of the bill provides the Defense and Veterans Affairs Departments with increased flexibility to avoid the harshest consequences of the automatic spending cuts, the Senate version would extend the increased flexibility to other departments.

Along with the Defense and Veterans Affairs Departments, the Senate version of the legislation would provide greater flexibility to the Homeland Security, Agriculture, Commerce, and Justice Departments as well as NASA.

In a statement unveiling the legislation, Sen. Barbara Mikulski, D-Md., Chairwoman of the Senate Appropriations Committee, said, “We must prevent a government shutdown.”

Mikulski said the Senate version of the bill avoids a shutdown, complies with the Budget Control Act, and improves the House continuing resolution for many critical priorities.

Vice Chairman Richard Shelby, R-Ala., also indicated that he was pleased with the legislation, calling it a bill that both parties in both houses can support.

“At a time when many doubt whether Congress can accomplish anything at all, this agreement is a very clear demonstration of our commitment to work together,” Shelby said.

The full Senate is expected to vote on the Appropriations Committee’s version of the legislation before the end of the week.

Last week, House Speaker John Boehner, R-Ohio, called on the Democratic-controlled Senate to pass the House version of the legislation without delay.

by RTT Staff Writer

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