Senate Expected to Follow Suit Before Friday Deadline

  • House passes $460 billion package of spending bills
  • Senate expected to pass package before deadline Friday
  • Total discretionary spending set to come in at about $1.66 trillion for the full year
  • Significant number of House Republicans oppose the spending packages
  • Nondefense spending relatively flat compared to previous year
  • House Freedom Caucus urges Republicans to vote against the spending packages
  • Democrats stave off most of the policy riders sought by House Republicans
  • House Republicans achieve some policy wins in the negotiations
  • Bills to fund federal agencies are more than five months past due
  • Democrats overwhelmingly support the bill, while Republicans are divided

The House of Representatives has passed a $460 billion package of spending bills to keep federal agencies funded for the remainder of the budget year. The Senate is expected to pass the package before the Friday deadline to avoid a government shutdown. The total discretionary spending set by Congress for the full year is projected to be around $1.66 trillion. However, a significant number of House Republicans oppose the spending packages, leading to a divided vote. The nondefense spending in this year’s bills remains relatively flat compared to the previous year. Democrats have successfully staved off most of the policy riders sought by House Republicans. Despite some opposition, House Republicans have achieved some policy wins in the negotiations. The bills to fund federal agencies are more than five months overdue, but House Republicans claim an improved process. Democrats overwhelmingly support the bill, while Republicans are divided on the issue.

Factuality Level: 7
Factuality Justification: The article provides a detailed and factual account of the House passing a spending bill, including information on the amount of spending, opposition from some House Republicans, negotiations on defense spending, specific cuts to agencies, policy wins and losses for both Democrats and Republicans, and the overall process of passing spending bills. The article presents information from both sides of the political spectrum without significant bias or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides detailed information about the House passing a spending bill, including the amount, opposition from House Republicans, negotiations for a second package, and specific cuts to various agencies. It also includes quotes from lawmakers on both sides, details on policy wins and losses, and the process of passing spending bills. However, the article lacks in-depth analysis, antifragility considerations, and accountability of powerful people. It mainly reports on the events without questioning or exploring deeper implications.
Financial Relevance: Yes
Financial Markets Impacted: The passing of the spending bills may have an impact on federal agencies and their budgets, which could indirectly affect financial markets and companies that rely on government contracts or funding.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the passing of a package of spending bills by the House, which has financial relevance as it pertains to the budget and funding of federal agencies. However, there is no mention of any extreme events or their impact.
Key People: Mike Johnson (House Speaker, R-La.), Rosa DeLauro (Top-ranking Democrat on the House Appropriations Committee), Mark Takano (Top Democrat on the House Veterans’ Affairs Committee), Hakeem Jeffries (House Democratic leader), Kevin Hern (R-Okla.), Scott Perry (R-Pa.)

Reported publicly: www.marketwatch.com