Senate leaders have reached a two-year budget agreement to resolve a months-long impasse over spending levels.
The two-year deal, which would increase current spending caps by roughly $300 billion, would include a major boost for military spending, with slightly smaller increases for domestic programs. It would also authorize funds for disaster aid, community health centers, the Children's Health Insurance Program and fighting the opioid crisis.
"This bill is a product of extensive negotiations among congressional leaders and the White House. No one would suggest it is perfect, but we worked hard to find common ground and stay focused on serving the American people," Senate Majority Leader Mitch McConnell said in announcing the agreement.
While acknowledging that both sides had to make "painful" concessions to strike the deal, Senate Minority Leader Chuck Schumer called it a "win for the American people" and a "genuine breakthrough."
The deal includes:
- A $165 billion increase in military spending
- A $131 billion boost to domestic program spending
- Funding for disaster relief efforts in Texas, Florida and Puerto Rico
- Two years of funding for community health centers
- Another four-year extension of the Children's Health Insurance Program, for a total of a decade
- Funding for existing infrastructure programs related to transportation, drinking water and broadband
News of the agreement comes ahead of the potential government shutdown at the end of Thursday. Congress aims to avoid letting funding lapse for the second time in less than a month.