Republicans and Democrats Agree on $1.1T Bill to Avoid Shutdown

Republicans and Democrats agreed Tuesday on a $1 trillion dollar spending bill to avoid a government shutdown. The spending bill adheres to strict caps negotiated earlier between the White House and Republicans. Pension-related talks between Representatives John Kline of Minnesota, and George Miller of California, were designed to preserve benefits of current and future retirees at lower levels than currently exist, but higher than they would be if their pension funds ran out of money. The AARP, which claims to represent millions of retirement-age Americans, attacked the agreement as a 'secret, last-minute closed door deal between a group of companies, unions and Washington politicians to cut the retirement benefits that have been promised to them.' Agency figures show as many as 1.5 million retirees could be affected by any change in the law to allow a reduction in benefits. Also on Congress' to-do list is legislation to renew a series of expiring tax breaks, and a bill to authorize the Pentagon to train and equip Syrian rebels to fight Islamic State forces in the Middle East. House Republicans removed one obstacle to passage of the spending measure by announcing they would pass legislation separately to renew a requirement for the federal government to assume some of the insurance risk in losses arising from terrorism.