To avoid a government shutdown, Republican and Democratic lawmakers have agreed on a $1.1 trillion spending bill.
The new bill was passed in part to avoid the looming political struggle surrounding President Obama’s new immigration policy. By agreeing on the new spending bill, this struggle will be delayed for at least another month.
Senate Majority Leader Harry Reid of Nevada told the AP, “The federal government’s going to run out of money in two days. … We’ve been trying to work with Republican leaders to avoid a shutdown.”
Republicans are responsible for negotiating the new spending bill which implements a number of new policy measures. Some of the new measures include, according to Reuters, the easing of environmental regulations as well as regulations aimed at financial derivative trading. The bill is also adding funds to fight the Islamic State militants as well as funds to help fight the spread of Ebola in West Africa.
According to Politico, the Commodity Futures Trading Commission is receiving a $35 million budget increase from the new bill, bringing their total budget to $250 million. The Securities and Exchanges Commission is also receiving a budget increase of $150 million, putting their budget close to $1.5 billion.
While some measures are added or changed, many of the original policy measures from the fiscal 2015 domestic spending plan are not hampered or hindered. This means all government agencies are being funded through September 2015, except for the Department of Homeland Security which is only funded to Feb. 27.
One measure which was excluded from the new bill was the federal terrorism insurance measure passed after 9/11. The insurance was up for a six-year extension, but instead of being included in the spending bill, the extension will be considered on its own at a later date.