Congress Funds the Government

Congress Funds the Government

Share this article

  • On Friday, the House voted for and Biden signed the $1.7T spending bill that is known on Capitol Hill as an omnibus, to fund FY 2023.
  • The bill will provide $772.5B for non-defence, domestic programs and $858B in defence funding. It also includes $45B in emergency assistance to Ukraine and NATO allies and $40B for disaster relief after hurricanes, wildfires and flooding.
  • This move also revised the Electoral Count Act that aims to prevent any future presidents from trying to overturn an election. Moreover, the bill also provides $15B for more than 7,200 projects that lawmakers initiated in their home states and districts.

Why it matters

This bill was the final vote of the Democratic-controlled House. On January 3rd, the new Congress will summon and the Republicans will be in the majority.


Get Smarter
About Investing

Join 35,000+ subscribers and get our 5 min daily newsletter on daily local and international financial news.
Get Smarter<br/> About Investing

Similar News