Official announcements from the US Treasury or major news outlets confirming the outcome of the debt limit negotiation.

Biden Signs Funding Bill Through March 2025, Averting Shutdown Amid Trump's Demands

Dec 21, 2024, 04:46 PM

President Joe Biden signed the "American Relief Act, 2025" on Saturday, averting a government shutdown just days before Christmas. The stopgap funding bill extends federal funding through March 14, 2025, and provides over $100 billion in disaster relief and $10 billion in agricultural assistance to farmers. The legislation also reauthorizes the Agriculture Bill for one year. The bill's passage came after a tumultuous week in Washington, where last-minute demands from President-elect Donald Trump and Elon Musk imperiled negotiations and derailed House Speaker Mike Johnson's original plan. Trump's demands for a debt limit extension were rejected. The Senate passed the bill with a vote of 85 in favor and 11 against in the early hours of Saturday, and Biden signed it shortly thereafter. In a statement, Biden said, "The bipartisan funding bill I just signed keeps the government open and delivers the urgently needed disaster relief that I requested for recovering communities as well as the funds needed to rebuild the Francis Scott Key Bridge."