House Passes the Ryan-Murray Budget Agreement
Breaking News: The House of Representatives has passed the Ryan-Murray Bill. The vote was 333 to 93, the bill did not include an unemployment extension or the debt ceiling. The bill is the first by-partisan bill passed in 15 years. Ed Shultz of MSNBC said that he does not trust the Republicans because they can still threatened to shut down the government. He felt that a statement should have been put in the bill saying that the Republicans would not try to shut down the government for 2 years. According NBC
“the framework would set spending levels above the $967 billion cap established by the sequester; the budget for 2014 would be set at $1.012 trillion, and the budget for 2015 would be $1.014 trillion. Appropriators will be charged with detailing the particular spending within those limits.
The increased spending was financed in part through $85 billion in reforms and "non-tax revenue," while also providing $63 billion in sequester relief split between military and non-military spending. Ryan said the proposal would reduce the deficit by $23 billion without raising taxes.
Though the tentative agreement falls far short of a "grand bargain" that solves overarching fiscal issues through a combination of new taxes and entitlement reforms, the agreement would offer some stability to government funding after several years of governing characterized by stopgap spending measures. “
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Source:
Lawmakers announce compromise budget deal
http://nbcpolitics.nbcnews.com/_news/2013/12/10/21851499-lawmakers-announce-compromise-budget-deal?lite&co=f000000013912s-1248979082
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