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Trump: Congressional leaders agree on two-year budget deal

By Daniel Uria
If passed through Congress, the deal would raise spending caps by $320 billion and suspend the debt ceiling through July 31, 2021. Photo by Kevin Dietsch/UPI
If passed through Congress, the deal would raise spending caps by $320 billion and suspend the debt ceiling through July 31, 2021. Photo by Kevin Dietsch/UPI | License Photo

July 22 (UPI) -- President Donald Trump announced Monday that congressional leaders reached a tentative two-year budget deal to avoid automatic spending caps and suspend the debt ceiling.

If passed through Congress, the deal would raise spending caps by $320 billion and suspend the debt ceiling through July 31, 2021.

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"I am pleased to announce that a deal has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi and House Minority Leader Kevin McCarthy -- on a two-year Budget and Debt Ceiling, with no poison pills," Trump wrote on Twitter. "This was a real compromise in order to give another big victory to our great military and vets."

Pelosi and Schumer issued a joint statement hailing the bipartisan deal they said will "enhance our national security and invest in middle class priorities that advance health, financial security and well-being of the American people."

They added that the House will "move swiftly" to bring the legislation to the floor and send it to Trump's desk as soon as possible.

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McConnell also praised the deal, calling for the House and Senate to pass the legislation.

"I am glad the administration and Speaker Pelosi have reached a two-year funding agreement that secures the resources we need to continue rebuilding our armed forces," he wrote on Twitter.

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