Friday, November 15, 2019

US Congress adopts new budget package

Featured

Trump said: Sondland is great American now President’s famous ‘U-turn’

President Donald Trump has a history of distancing himself from associates who have found themselves in legal trouble or...

Babri mosque: Indian Supreme Court ruled in favor of Hindus in a dispute over a religious position with Muslims

India's Supreme Court on Saturday ruled in favor of a Hindu group in a long-running legal battle over a...

France Visa: New point-based skilled immigrant program to be enforced by summer 2020

France will introduce new point-based skilled immigrant program (France Visa), will come to force by summer 2020. French government...
Adil Ghaffar
Adil Ghaffar
Experienced Chief Executive Officer with a demonstrated history of working in the financial services' industry. Skilled in Negotiation, Business Planning, Microsoft Word, Accounting, and Team Building. Strong business development professional with an ACA focused in Accounting and Finance from institute of chartered accountants of Pakistan. Contact: [email protected]

The US Congress has passed a budget package for the next two years, averting the risk of a possible government deadlock beyond the 2020 presidential election. After the House of Representatives voted on Thursday, a majority in the Senate for the budget and for an increase in the debt ceiling. 67 senators voted for the government of President Donald Trump and compromise negotiated with leading representatives from the Congress. 28 voted against it.

Resistance to rising spending was also in the ranks of Trump’s Republicans. In the Senate, 29 Republicans voted for the budget package and 23 against it on Thursday. Trump still has to sign the law. He campaigned shortly before the vote for approval in the Senate. “The budget package is phenomenal for our great military, for our veterans, and for jobs,” he said on Twitter. The president wrote to his party friends that there would be plenty of time to lower spending.

The US debt ceiling law sets out how many new debts the government is allowed to make to settle its expenses. The limit is raised regularly, but this right is solely at the congress. If the upper limit remains, no new money can be lent and the government can not pay its debts. This would have threatened if no agreement had been reached.

Read also: Trump: As usual Powell has “failed” us on interest rates

Adil Ghaffar
Adil Ghaffar
Experienced Chief Executive Officer with a demonstrated history of working in the financial services' industry. Skilled in Negotiation, Business Planning, Microsoft Word, Accounting, and Team Building. Strong business development professional with an ACA focused in Accounting and Finance from institute of chartered accountants of Pakistan. Contact: [email protected]

Latest News

Trump’s removal measures: US Poll reveals support for 50 percent of Americans to the House of Representatives

The Politico Foundation released the results of a US Poll in conjunction with Trump's impeachment measures, revealing that 81%...

New UK Guidelines on EU Citizens residence

Britain is threatening to deport EU citizens if they do not apply in time for a new immigration status after Britain leaves the bloc...

US appeals court upholds decision to disclose Trump’s financial records

Trump's financial records: A US appeals court said on Wednesday it would not review an October decision ordering President Donald Trump's accounting firm to...

Ukrainian president offers 10 percent bonus for bribery and corruption reporting

Ukrainian President Volodymyr Zelensky has signed a law to pay 10 percent of confiscated money to those reporting corruption-related crimes to the authorities. The Ukrainian...

Morales condemns US recognition of the new government in Bolivia

Bolivia's former president, Evo Morales on Wednesday denounced the United States' recognition of his country's self-proclaimed "de facto" government since he left the country. The...
- Advertisement -

Related News