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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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