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Senate reaches deal that raises budget caps

Congressional leadership
House Speaker Paul Ryan, Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, House Minority Leader Nancy Pelosi (From left to right). Photo: Matt McClain/The Washington Post via Getty Images

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.