Offsets or Upsets

House Speaker Mike Johnson and Senate Majority Leader Chuck Schumer announced a new spending agreement for the 2024 fiscal year, aiming to prevent a government shutdown. The deal, facing resistance from some conservative House Republicans, includes a $16 billion offset and reallocates $6.1 billion in unspent COVID relief funds. While Speaker Johnson and President Biden express optimism, passing the agreement in time remains uncertain. The allocated funds include $886.3 billion for defense and $772.7 billion for domestic spending. The January 19th deadline looms for many agencies, with conservative demands on immigration policies adding complexity. The House Freedom Caucus criticizes the deal, leaving the outcome of today's Senate briefing and the path forward uncertain. Stay tuned for updates on this unfolding story. Congressional leaders announce an agreement on spending levels, a key step to averting shutdown | AP News Biden signs debt ceiling bill that pulls US back from brink of unprecedented default | AP News Congress reaches a deal on how much to spend for 2024 as shutdown deadline nears With Shutdown Looming, House and Senate Leaders Agree on Spending Levels