US Federal Budget 2024 Passed by Congress

The US Senate has approved the federal budget package with 74 votes in favor and 24 votes against, just a few hours after it was passed in the House of Representatives with 286 votes in favor and 134 votes against on the morning of March 23rd (Washington D.C. time).

This move comes just before the deadline to prevent a government shutdown. However, the White House’s Office of Management and Budget has affirmed that this will not have any impact on the government’s operations.

The legislation allocates a full budget for the government until September and ends the ongoing monthly spending battle for the 2024 fiscal year. Notably, this budget bill includes $886 billion for the Department of Defense, which includes increased salaries for US military personnel.

Senator Susan Collins (Republican Party), one of the key figures in the negotiation process, shared, “This legislation is truly about national security. Up to 70% of the funds allocated are dedicated to defense, including investments to enhance the readiness of the military and industrial base. The bill also provides salary increases and benefits for our brave service members and supports America’s closest allies.”

Another notable aspect of the new budget is the exclusion of most foreign military aid packages, including funds for Ukraine and Israel.

Previously, on March 14th, House Speaker Mike Johnson mentioned taking this into account after the budget for 2024 is passed. After being approved by both houses of Congress, the budget package has been presented to President Joe Biden for signing.

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