United States budget agreement reached

Senate Majority Leader Mitch Mc Connell talks to reporters following the weekly policy luncheon at the U.S. Capitol

"I am very pleased to announce that we have reached a two-year budget deal to lift the spending caps for defense and urgent domestic priorities far above current spending levels", Schumer said.

The higher defense spending should allow Trump to make good on a campaign promise for a USA military build-up. "It ends the risky sequester and gives Secretary Mattis what he needs to keep America Great", he added. before warning, "Republicans and Democrats must support our troops and support this Bill!"

Lawmakers still need to vote on a short-term spending bill to avert a shutdown, CBS News reported.

"The budget deal does not have everything Democrats want, it does not have everything the Republicans want, but it has a great deal of what the American people want", Schumer said in his speech on the House Floor. "But I have an unease with it and hope that the Speaker will man up and decide that we in the House can also have what Mitch McConnell guaranteed in the Senate: a vote on the floor [on immigration]", Pelosi said.

The White House endorsement came a day after Mr Trump said he would "love to see" the US government shutdown if there was no deal on immigration and funding for his proposed US-Mexico border wall.

But many Democrats, including House Minority Leader Nancy Pelosi (Calif.), are hesitant to support the bill because it doesn't include a path to citizenship for young undocumented immigrants, also known as DREAMers.

Yet, Republicans and Democrats in the House threatened to hold it up even if it gets bipartisan support in the Senate.

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Wall Street gains as volatility eases, Dow up over 200 points
Australia's benchmark S&P ASX 200 slid 3.2 percent to 5,833.30 and South Korea's Kospi declined 1.5 percent to 2,453.31. His comments also showed that the U.S. central bank are unlikely to be dismayed by this week's events on Wall Street.

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GOP Rep. Mo Brooks of Alabama said he'll vote "hell no" on the measure.

"I'm not advocating for shutting down the government", Paul said in an interview on Fox News. Pelosi, however, has reportedly avoided demanding that her Democratic colleagues formally oppose the spending bill.

Republicans were sidetracked in the fall with tax reform, and Democrats halted headway last month to demand progress on protections for Dreamers, immigrants who had been brought to the us illegally as children.

Senate Democrats are evidently confident that their concerns over immigration will be met during a forthcoming debate on a Dreamers Bill, and were happy to park the issue for the sake of keeping the government open. He said it will start with essentially a blank slate and both Democrats and Republicans will be able to offer amendments for a vote. "This deal will lead to higher budget deficits, possibly putting us over $1 trillion, and saddle future generations with more debt". The deal is also set to provide additional funds for disaster relief efforts and address the opioid crisis in the United States, he added.

The Republican summary didn't specify how long the debt limit would be suspended.

In addition to long-term military funding, the bill would allocate $131 billion to civilian programs, including $20 billion for infrastructure programs such as rural broadband, clean water, and roads.

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