Senate To Vote On Major 2-Year, $320 Billion Budget Deal Which Suspends Debt Ceiling

On Thursday morning, the Senate will look to pass a major budget deal that was negotiated between President Trump and Republican and Democratic congressional leadership.

The whopping $320 billion deal would lift spending caps and fund the government for two years, should it be approved by the Republican-majority chamber. The bill needs to clear a 60-vote threshold before it would be sent to President Trump’s desk before it becomes a law. While the budget is expected to receive 60 votes, Politico reports the vote may be close.

Here’s more, from the report:

That’s in part because after railing against the debt and deficit for years, conservatives find the legislation a tough pill to swallow. GOP leaders have been eager to get a majority of their members to support the legislation after roughly two-thirds of House Republicans opposed the budget deal that was approved by the Democrat-controlled House last week.

The bill’s proponents on the Republican side have been touting the increase in spending for defense spending as worth the compromise with Democrats over domestic spending. They say there’s no alternative now that the House has left town, and the budget deal is far better than the alternatives of automatic budget cuts or stopgap spending bills.

And:

“We’re going to avoid this short of nonsense we’ve had in the past with shutdowns and brief continuing resolutions,” said Sen. Roger Wicker (R-Miss.), who has been advocating for his colleagues to support the legislation. “In the end there will be enough members to do the responsible thing.”

Most Senate Democrats are expected to support the legislation, though some liberals and senators running for president seem likely to oppose it. And Sen. Joe Manchin (D-W.Va.) said that the bill does a lot for his state but that he’s concerned that the legislation does nothing to address “long-term fiscal responsibility.”

According to the report, the Senate body will also take up a vote on an amendment proposed by Senator Rand Paul to cut federal spending, reinstitute spending caps, and balance the budget. This amendment is not expected to receive 60 votes to pass but it could give fiscal conservatives a means to voicing their frustrations with continued federal spending.

The U.S. debt sits just above $22 trillion according to the U.S. Treasury.