Under legislation passed yesterday by the U.S. Senate, if signed into law, the Federal Government will be funded and the debt limit suspended through Dec. 8 under a Senate amendment to H.R. 601
. In contrast to House passed bill, H.R. 3672
, this bill would provide about $15.3 billion in aid for disaster relief following Hurricane Harvey and in advance of Hurricane Irma. Additionally, the continuing resolution (CR) portion of the bill would provide funding for federal agencies through Dec. 8, at a rate based on the fiscal 2017 omnibus appropriations law (Public Law 115-31
) and a separate measure that provided fiscal 2017 funding for the Veterans Affairs department and military construction programs (Public Law 114-223
). H.R. 601, as amended by the Senate, would impose a 0.6791 percent across-the-board funding reduction to keep its spending within discretionary spending caps, which total $1.06 trillion. H.R. 601 includes language to extend the National Flood Insurance Program (NFIP) through Dec. 8, and also addresses the Federal Debt Limit, suspending the limit on federal borrowing through Dec. 8. Suspending the current $19.8 trillion limit would enable the U.S. Government to continue to borrow money to pay its obligations. The House is expected to act on the Senate measure today and if passed by the House, it would be sent to the President for his signature.