Senate passes 2-year, $2.7T budget deal

The deal lifts strict caps on spending by hundreds of millions of dollars and raises the nation's borrowing authority.
1:45 | 08/01/19

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Transcript for Senate passes 2-year, $2.7T budget deal
When it comes to the budget the eyes of 67 the names are 28 and the bill is passed to governments had to deal. And has averted any potential funding by door shut down for another two years. This legislation lays the ground work to avoid another government shut down. And will preserve the full faith and credit of the United States. The rare bipartisan agreement being held as a win by both sides negotiated by the House Speaker Nancy Pelosi and Treasury Secretary Stephen any action. It will raise federal domestic and military spending by 320. Billion dollars. Lifts the debt ceiling pushing off any new budget fight past the 20/20 election and prevent automatic spending cuts that were sent to hit in January. Let it doesn't do you however address the ballooning deficit or skyrocketing debt currently at 22 trillion dollars. I had many Republicans. Leery of them writing backlash as the party depart from their start. Balanced budget orthodoxy they've been known Ford for decades. This may well be the most fiscally. Irresponsible thing we've done in the history the United States. Senate majority leader Mitch McConnell encouraging his carcasses support especially after two thirds of house Republicans did not. This is the deal that I remember this body troops report when we vote. Later this morning. The president hoping out tweeting its phenomenal for our great military our vets and jobs jobs jobs. Go for it Republicans. In total 23 Republicans still defected. The bill still needs the president's promise signature but this wanna the last outstanding pieces of legislation at a senate needed to pass before departing on their six week recess. Through in a Marshall ABC news Washington.

This transcript has been automatically generated and may not be 100% accurate.

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