To avert a potential government shutdown in the near future, congressional leaders have reached a topline federal budget accord for 2024. "After many weeks of dialogue and debate, we have secured hard-fought concessions to unlock the FY-24 topline numbers and allow the Appropriations Committee to finally begin negotiating and completing the twelve annual appropriations bills," House Speaker Mike Johnson wrote in a Sunday letter to his fellow representatives, confirming the $1.59 trillion spending deal.
The military budget receives $886 billion, while nondefense expenditure receives $704 billion.
"Although the levels of emergency spending from FY23 will remain unchanged, there will be no more emergency funding or modifications to mandatory programs (CHIMPS) that do not involve expenditures," the letter continues. "As part of the Democrats' 'Inflation Reduction Act,' we've agreed to reduce mandatory funding for the IRS by $10 billion more, for a grand total of $20 billion."
In addition to cutting money for programs from the COVID period by $6.1 billion, the statement included what Johnson called "the most favorable budget agreement Republicans have achieved in over a decade." While several government programs were about to expire due to lack of financing, the agreement would free up the House and Senate to work on new spending legislation, allaying recent fears of a possible shutdown.
The military budget receives $886 billion, while nondefense expenditure receives $704 billion.
"Although the levels of emergency spending from FY23 will remain unchanged, there will be no more emergency funding or modifications to mandatory programs (CHIMPS) that do not involve expenditures," the letter continues. "As part of the Democrats' 'Inflation Reduction Act,' we've agreed to reduce mandatory funding for the IRS by $10 billion more, for a grand total of $20 billion."
In addition to cutting money for programs from the COVID period by $6.1 billion, the statement included what Johnson called "the most favorable budget agreement Republicans have achieved in over a decade." While several government programs were about to expire due to lack of financing, the agreement would free up the House and Senate to work on new spending legislation, allaying recent fears of a possible shutdown.
