Friday 27 December 2013

Averting shutdown

US budget bill signed into law

27 December, 2013

US President Barack Obama on Thursday in Hawaii signed a two-year bipartisan federal budget bill, averting the risk of a government shutdown in January.

The legislation was passed by both the Senate and the House of Representatives before Christmas.

The bill was drafted by a cross-party budget committee set up after a shutdown of the federal government for 16 days in October.

It aims to cut up to $US23 billion from the annual budget deficit of $US642 billion. It also rolls back $US63 billion in military and domestic spending cuts took effect in January.

The BBC reports Congress now has until 15 January to pass a $US1.012 trillion fiscal spending bill for 2014.

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