U.S. Congress Approves Stopgap Funding Bill

US congressional leaders have reached an agreement on a two-tranche stopgap spending bill to prevent a partial government shutdown and keep federal agencies funded into March, a source familiar with the measure told Reuters, Michael Martina, Patricia Zengerle and Ismail Shakil reported for Reuters.

A spokesperson for the Senate's Democratic majority leader, Chuck Schumer, said a text of the spending deal is expected to be posted online. I Photo: Third Way Think Tank Flickr

A spokesperson for the Senate's Democratic majority leader, Chuck Schumer, said a text of the spending deal is expected to be posted online. A second source, speaking on condition of anonymity, told Reuters the earlier reports were accurate.

The "continuing resolution" or "CR" will extend deadlines through March 1 and March 8, averting a shutdown that could have started late next week.

Funding for some federal agencies, including the Department of Transportation, expires on January 19, while others, like the Defense Department, face a February 2 deadline.

The $1.59 trillion deal reached by the top Democrat and Republican in Congress on January 7 to fund the government through the current fiscal year awaits passage.

If not approved by January 19, parts of the federal government would begin to shut down. The short-term funding bill aims to provide time for bipartisan negotiations on full-year fiscal 2024 spending bills.

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