Budget Deal Easing $63 Billion in Cuts Advances in Senate
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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 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 reductions known as sequestration for next year, and about three-quarters of the planned cuts for 2015.