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IPFS News Link • Government Debt & Financing

Spending Deal Reached, the Republican Freedom Caucus Condemns It

•, By Mish

The Wall Street Journal reports Congressional Negotiators Reach Agreement on $1.6 Trillion Government Spending Level for 2024

Spending Deal Key Points

"This is total failure," the House Freedom Caucus, an ultra conservative group of about three dozen Republicans, said on social media after news of the deal broke. 

The new figure is about in line with the spring level. In separate statements Sunday, Johnson and Senate Democrats said defense spending levels would total $886 billion for the current fiscal year, which began on Oct. 1. 

The agreement allows Congress to "maintain important funding priorities for the American people and avoid a government shutdown," said House Democratic Leader Hakeem Jeffries (D, N.Y.) and Senate Majority Leader Chuck Schumer (D, N.Y.) in a joint statement. 

"Unfortunately there are only microscopic concessions made by the D.C. Cartel in this new spending 'deal,'" said Rep. Matt Rosendale (R., Mont.) on social media.

The canceled spending comes from mandatory funds that were never going to be spent in the first place.

The deal leaves unresolved some key battles and could open up more friction between House Speaker Mike Johnson (R., La.) and his conservative flank.

"These final spending levels will not satisfy everyone, and they do not cut as much spending as many of us would like," Johnson said.