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Congress Sends Obama Budget

Bipartisan budget easing $63 billion in automatic spending cuts passes Senate. President Obama has said he'll sign it.

By Kathleen Hunter and Heidi Przybyla, Bloomberg | Updated on December 18, 2013

The U.S. Senate cleared and sent to President Barack Obama the first bipartisan budget produced by a divided Congress in 27 years, resolving (for now) spending issues that had helped spur a government shutdown in October.

The $1.01 trillion budget deal, which passed 64-36 today, eases $63 billion in automatic spending cuts, raises user fees, and lowers the U.S. deficit over 10 years. The plan keeps in place about half of the spending reductions known as sequestration for next year and about three-quarters of the planned cuts for 2015.

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