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House Passes Budget Plan, Debt Limit Increase

October 29, 2015

WASHINGTON (October 28, 2015) The U.S. House Wednesday passed a bipartisan budget-and-debt deal that prevents an unprecedented government default.
A coalition of Democrats, GOP defense hawks and pragmatic Republicans supported the measure.

The legislation now heads to the Senate, which is on track to pass it before Tuesday's deadline for increasing the so-called debt limit.
It gives the government authority to borrow freely through March 2017.

The measure is the result of hard-fought negotiations between congressional leaders and President Barack Obama.

The bill also calls for approximately $112 billion in additional spending over two years, to be allocated in upcoming legislation negotiated by theHouse and Senate.
About $80 billion would be offset by spending cuts elsewhere in the budget .

U.S. Rep. Bill Flores, R-Bryan, opposed the deal , which he said "falls far short."

"The ‘spend now, save later' approach in this bill fails to address the critical drivers contributing to Washington's fiscal nightmare," he said.

U.S. Rep Roger Williams, R-Austin, was also critical of the deal.

"America's financial charades need to be put in order," he said.

"Despite President Obama's favorite claim of shrinking deficits, we are increasing the balance on our national credit card while at the same time over-drafting our checking account again and again."