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2-Year Budget Plan Heads to Obama’s Desk After Senate Approval

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CapitolDomeThe Senate voted 64-35 early Friday to pass a bipartisan budget deal that sets two-year government spending priorities and averts a possible federal default next week, Bloomberg reported Friday.

Terrence Dopp and Kathleen Miller write the budget plan, which is headed for President Barack Obama’s signature, would keep the government afloat through March 2017.

All 46 Senate Democrats and 18 Republicans supported the agreement while 35 Republican lawmakers opposed it.

The House approved the deal Wednesday through a 266-167 vote.

“This is a fully offset agreement that rejects tax hikes, secures long-term savings through entitlement reforms, and provides increased support for our military,” said Senate Majority Leader Mitch McConnell (R-Ky.), the publication reports.

The proposed budget includes an $80 billion increase in defense and non-defense program funds over the next two years and allocates additional war funds for the departments of Defense and State, the report said.

Dopp and Miller said the deal would also avert Medicare premium hike next year for certain beneficiaries as well as raise Medicaid drug rebates that pharmaceutical companies pay to federal and state governments.

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