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Congress Finally Passes Debt Ceiling Bill, Narrowly Avoiding Default

Last week, the debt ceiling bill was passed by both the House and the Senate and signed by President Biden on Saturday lifting the debt ceiling until January 2025, narrowly missing the deadline for default on the country’s debt. The agreement caps non-defense spending at FY23 levels and allows for only a 1% increase in FY2025. Now that the caps have been set, appropriators will determine the specific levels of funding for agencies and programs. As always, we will track progress on our appropriations tracker found here.