US President Barack Obama signed into law a short-term budget Bill on 26 March 2013 in Washington that removes the alarming threat of a Government shutdown by funding the US government through the end of the year.
The lower chamber of Congress passed the measure last week 318-109, a day after the upper Senate had approved the effort 73-26. The final vote was 318-109 — 115 Democrats joined 203 Republicans to pass the bill.
The budget provides 1 trillion dollar through the end of the budget year on 30 September 2013 but maintains 85 billion dollar in across-the-board austerity measures that took effect earlier in March 2013. The measure on the other hand allows certain government departments, including the Defence Department, more suppleness in enacting the mandatory cuts.
The new bill which is also Known as a continuing resolution, extends funding levels for the government through the fiscal year at the levels already agreed to by both parties.
Congress has been under pressure to produce a Bill; as if a short-term funding blueprint had not been agreed to before 27 March 2013 the Government would have run out of money.
To avert a government shutdown, Congress has had to pass a series of short-term measures because it did not pass a year-long budget.
The threat of a government shutdown was the latest budgetary standoff between Republicans, who control the House of Representatives, and Obama and his Democratic Party, which controls the Senate.