US Budget Deal Passes Senate Procedural Vote

A budget bill has passed a US Senate procedural vote, all but guaranteeing its approval this week and averting a government shutdown next month.

In a rare show of cross-party spirit, 12 Republicans joined Democrats to pass the measure 67-33, paving the way for a majority vote later this week.

The two-year budget bill was overwhelmingly approved last week by the US House of Representatives.

President Barack Obama has also backed the budget proposal.

Tuesday’s vote exceeded the 60 votes required to overcome a delaying tactic known as a filibuster. It is expected to come up for a simple majority vote on Wednesday.

The Senate’s top four Republican leaders – who are in the minority – voted to block consideration of the budget bill, though their opposition was mainly symbolic and they knew the bill would ultimately go forward, analysts say.

If approved, it will go to Mr Obama for his signature.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza