Congressional leaders announce spending deal

House Speaker Mike Johnson, R-La., told colleagues in a letter Sunday that the agreement would secure $16 billion in spending cuts. He described it as the “most favorable budget agreement Republicans have achieved in over a decade.” Johnson and Senate Majority Leader Chuck Schumer, D-N.Y., brokered the nearly $1.7 trillion deal.

What’s included in this deal? If passed, the legislation would provide roughly $890 billion for defense spending and around $770 billion in domestic non-defense spending, according to Johnson. The House and Senate return this week from a break to continue negotiations. Late last year, Congress passed a bipartisan spending resolution that funded some government agencies through Jan. 19 and others through Feb. 2.

Dig deeper: Read Leo Briceno’s report in The Stew about the pressure on Johnson to bring change in 2024.