Biden signs bill funding government through March, averting shutdown

• The House and Senate hours earlier passed the measure by overwhelming margins.
• The funding agreement runs through March 14 and also includes a one-year Farm Bill extension and over $100 billion in disaster relief for hurricane-ravaged areas.

What he's saying: "This agreement represents a compromise, which means neither side got everything it wanted," Biden said in a statement.

• "But it rejects the accelerated pathway to a tax cut for billionaires that Republicans sought, and it ensures the government can continue to operate at full capacity."
• "That's good news for the American people, especially as families gather to celebrate this holiday season," the president added.

The big picture: Trump blew up an initial bipartisan agreement earlier this week, demanding that Congress also raise the debt limit before the end of the year.

• That led to a revised bill that would have suspended the debt limit for two years.
• That measure failed spectacularly in the House on Thursday night, and the debt limit provision was nixed.

Go deeper: Jeffries' plan to kill the debt ceiling forever

Editor's note: This story has been updated with a statement from Biden.