Aside from deterring from the usual Congress gridlock we’ve become accustomed to, Tuesday’s bipartisan budget deal was historic– a divided government reportedly hasn’t come to an agreement like this since 1986. But what does it mean for all of us?
The House and Senate still have to approve it, followed by President Barack Obama’s signature.
If those hurdles are crossed, the deal would prevent another government shutdown, setting federal spending at slightly more than $1 trillion for this fiscal year and the next.
“The deal is something that accomplishes deficit reduction, permanent pension reform for government employees and it doesn’t raise taxes,”
said House Majority Leader Eric Cantor (R-VA)
“We are able to restore many of the cuts that would otherwise take place as a result of the sequester,”
said ranking member Chris Van Hollen (D) from the House Budget Committee.
But left on the chopping block are federal unemployment benefits. Around 1.3-million people who’ve been out of work long-term stand to be affected. And it will also hit airports. The deal would raise the passenger security fee, increasing a round-trip fee from $5 to more than $11.