After weeks of negotiations and harsh criticism from politicians on the right and left, the House passed the Fiscal Responsibility Act of 2023 on a bipartisan basis late last evening. The bill suspends the debt limit until after next year’s elections, a Democratic priority, and sets budget caps that will require substantial cuts to future government spending, a Republican priority. Spending for defense and veterans medical care are exempt. The impact on specific non-defense agencies like NASA will be determined later by congressional appropriators. The Senate will vote on the bill in coming days.
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