Yesterday, President Obama quietly signed the contentious $1.1 trillion spending bill into law. The bill will keep the government funded for nine more months.
Fox News writes: “The measure retains cuts negotiated in previous budget battles and rolls back some banking regulations. But it also retains spending for Obama’s health care law and pays for the administration’s fight against Ebola.”
The Department of Homeland Security will only be funded until February 27, 2015.
The agreement, negotiated mainly by Senate Democratic leader Harry Reid and House and Senate Republican leaders, was the result of a determined effort by House Speaker John Boehner and Senate Republican leader Mitch McConnell to avoid a government shutdown like the partial one in 2013 that damaged the GOP’s standing with the public.
Not all Republicans were pleased with the negotiations. Senator Ted Cruz (R-TX) “chafed” at Republican leadership’s refusal to use the spending bill to challenge Obama’s executive amnesty plan that would “shield more than 4 million immigrants from deportation and make them eligible for work permits.”
On the other hand, liberals were unhappy with a provision “that did away with a requirement that large banks spin off their lucrative derivatives business into separate subsidiaries” and certain changes to campaign finance reform laws.