While the budget deal provides some sequester relief for the military that Pentagon leaders have clamored for, it does not raise spending back up to pre-sequester funding levels.
On The Money
It's budget time: House and Senate negotiators reached a deal Tuesday night and spilled the details about the two-year agreement ahead of the budget conference’s Dec. 13 deadline.
Now the House will shift its efforts into passing the legislation before leaving for the holidays at the end of the week.
Obama hailed the "balanced" deal for replacing $63 billion in automatic spending cuts.
The big question is whether that package will be accepted in the House.
The Senate voted 57-41 to confirm Rep. Mel Watt (D-N.C.) as top housing regulator.
Business groups and lawmakers are making a two-pronged push for completion of fast-track authority and the addition of currency manipulation provisions into a delayed Asia-Pacific trade deal.
Trade advocates used the announcement on Tuesday that negotiators of the 12-nation Trans-Pacific Partnership (TPP) had failed to reach an agreement in time to make a self-imposed year-end deadline to keep up their pressure on other initiatives.
"What we really need is a government with less debt," the Florida senator said.
Negotiators bowed to reality and said there would not be a farm bill by the end of 2013.
Leaders are trying to come to a framework deal on farm subsidies and food stamp cuts.