Skip to content
Subscriber Only

Congress Leaders Agree on Stopgap U.S. Spending Plan

An agreement reached by congressional leaders and President Barack Obama to fund the U.S. government through March will give lawmakers time to debate $607 billion in spending cuts and tax increases scheduled to start in January.

The House and Senate haven’t come up with a plan to avert the spending cuts, which total $1.2 trillion over 10 years. Unless Congress acts, the George W. Bush-era tax cuts and other tax breaks will expire Dec. 31.