This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Senate easily passes $1.1 trillion spending bill

Obama's budget director, Sylvia Mathews Burwell, called the spending bill's passage a positive step for the nation and the economy. "It ensures the continuation of critical services the American people depend on," she said in a blog post.

Shortly before the final vote, Sen. Ted Cruz, R-Texas, delivered a slashing attack on Senate Democrats, accusing them of ignoring the problems caused by the health care law. "It is abundantly clear that millions of Americans are being harmed right now by this failed law," Cruz said.

Unlike last fall, when he spoke for 21 straight hours and helped force the government shutdown over defunding Obamacare, this time he clocked in at 17 minutes and simply asked the Senate to unanimously approve an amendment to strip out Obamacare funding. Democrats easily repelled the maneuver.

The 1582-page bill was really 12 bills wrapped into one in negotiations headed by Rep. Harold Rogers, R-Ky., and Sen. Barbara Mikulski, D-Md., respective chairmen of the House and Senate Appropriations committees, and their subcommittee lieutenants. They spent weeks hashing out line-by-line details of a broad two-year budget accord passed in December, the first since 2009.

The bill, which cleared the House on a vote of 359-67, increases spending by about $26 billion over fiscal 2013, with most of the increase going to domestic programs. Almost $9 billion in unrequested money for overseas military and diplomatic operations helps ease shortfalls in the Pentagon and foreign aid budgets.

The nuts-and-bolts culture of the appropriators is evident throughout the bill. Lower costs to replace screening equipment, for example, allowed for a cut to the Transportation Security Administration. Lawmakers blocked the Agriculture Department from closing six research facilities. And the Environmental Protection Agency is barred from issuing rules on methane emissions from large livestock operations. There's money to modernize nuclear bombs, help with a Syrian refugee crisis and repair the iconic cast iron dome of the Capitol.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,868.08 -108.23 -0.60%
S&P 500 2,076.20 -10.04 -0.48%
NASDAQ 4,920.86 -26.5810 -0.54%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs