Vote on $1.14 Trillion Spending Bill Postponed

//Vote on $1.14 Trillion Spending Bill Postponed

Vote on $1.14 Trillion Spending Bill Postponed


Speaker of the House, Paul Ryan, announced on Wednesday that the vote regarding the $1.14 trillion “end-of-the-year” spending bill will now be held on Friday.

Postponing the spending vote means the House has failed to meet the deadline which has now forced a second stop-gap resolution in order to keep the government from shutting down.

The original deadline was set for Dec. 11, but Congress failed to meet that deadline which spurred the first stop-gap resolution. That original stop-gap will run out Wednesday night.

Ryan told Republican lawmakers that the reason for missing the deadline is due to congressional leaders failure to reach an agreement on the final terms of the spending bill. This bill will dictate the funding of the government through September 2016.

The spending bill includes: GOP proposal to lift the 40-year ban on exporting U.S. crude oil, increases in domestic and defense spending, reauthorization of a health insurance program for 9/11 responders, cybersecurity legislation, control of the visa waiver program, and suspend three major Obamacare taxes (medical device tax and health insurance tax).

Both the medical and high-end insurance plans were scheduled to be implemented in 2018, but with the passage of this bill would delay it until 2020. The third tax, which would be imposed on health insurance providers and paid for through increased premiums, will also be suspended for one year.

Congressional leaders did settle an agreement on a variety of tax breaks that are worth about $600 billion.

The House will vote on the tax bill Thursday morning and then follow it with a vote on the spending bill on Friday.

Despite delays in the vote, it is expected to pass in both the House and Senate before ultimately being signed by President Obama.

By |2015-12-16T18:25:12+00:00December 16th, 2015|Uncategorized|Comments Off on Vote on $1.14 Trillion Spending Bill Postponed

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