Senate reaches deal that raises budget caps
Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer announced on the Senate floor Wednesday afternoon that a deal had been reached to fund the government for 2 years, which includes raising military spending but excludes a DACA provision.
Why it matters: The budget lifts sequestration caps, increasing discretionary spending by $300 billion over two years. The deal extends CHIP for 10 years instead of two and includes disaster relief and opioid response funding.
The highlights, per Schumer:
- $131 billion increase in domestic spending (to match increase in defense spending)
- $20 billion in infrastructure spending
- $6 billion in opioid treatment funding
- $5.8 billion for the Child Care Development Block Grant
- $4 billion for the VA
- $2 billion increase for the National Institutes of Health
- Children's Health Insurance Program extended for another four years
This story has been updated with details of the budget agreement from Schumer's floor speech.