The Hill posted a fairly good summary of the budget deal reached in Congress that will prevent a government shutdown. The Congress has actually agreed on something. Now the bill goes back to the House of Representatives for final approval and the President has to approve it in order for it to become law.
The payroll tax cut was extended for two months. That means that we will have to sit through all the posturing and name calling again in about six to eight weeks. Yuck. The bill includes a provision to expedite the construction of the Keystone Pipeline. The bill does not extend some of the business tax breaks–this will not be good for the growth of the economy–there is no such thing as a corporate tax–all corporate taxes are paid by the consumer.
The Hill reports:
The bill now awaits approval next week by the House of Representatives. Senate aides expect House Speaker John Boehner (R-Ohio) to agree to the proposal but he will not do so formally until he has had a chance to consult with members of the House GOP caucus.
The thing to remember here is that all these last minute theatrics are caused by the fact that the Senate has not approved a budget since President Obama took office (even during the two years he controlled the House and the Senate), so there are no spending guidelines in place. What we need is for Congress to actually pass a budget that they will have to follow. That would help make Washington a saner place.