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12/30/22 - The President Signs A New Budget Bill

Friday, December 30, 2022 at 8:15 AM

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President Biden signed a $1.7 trillion spending bill that will keep the federal government operating through the end of the federal budget year.

-President Biden took a brief break from his vacation in the U.S. Virgin Islands to sign the $1.7 trillion spending bill.

The massive bill topped out at more than 4,000 pages and wrapped together 12 appropriations bills.

The legislation included $45 billion for Ukraine, $40 billion for disaster relief for communities recovering from natural disasters; and bans TikTok on federal agencies' devices. It also contains a number of policy changes. 

The funding bill includes a roughly 6% increase in spending for domestic initiatives, to $772.5 billion. Spending on defense programs will increase by about 10%, to $858 billion.

The bill also provides roughly $15.3 billion for more than 7,200 projects that lawmakers sought for their home states and districts. Under revamped rules for community project funding, also referred to as earmarks, lawmakers must post their requests online and attest they have no financial interest in the projects. Still, many fiscal conservatives criticize the earmarking as leading to unnecessary spending.

"Today, I signed the bipartisan omnibus bill, ending a year of historic progress," Biden said on his Twitter account. "It'll invest in medical research, safety, veteran health care, disaster recovery, and gets crucial assistance to Ukraine. Looking forward to more in 2023."

President Biden had until late Friday to sign the bill to avoid a partial government shutdown.

 

 

 

 

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