Politicians surprise, reach bipartisan agreement on six-month budget extension

The Takeaway

On Thursday, the U.S. Senate passed legislation granting incentives to employers who hire veterans.

Politicians in Washington broke with recent tradition this week when they reached a bipartisan agreement to keep the federal government operating — and they did so two months before the deadline.

In recent months, politicians have seemed determine to wring political victory out of every opportunity — either by demanding no concessions or by bringing the government to the brink of shutdown before reaching some sort of agreement. So it came as a bit of a shock Tuesday when House Speaker John Boehner, Senate Majority Leader Harry Reid and President Barack Obama announced they'd reached an agreement in principle on a six-month budget for the federal government, long before its Oct. 1 deadline.

The agreement, which actually slightly increases federal funding, will fund operations until April 1, pushing the crucial budget measure out beyond the federal elections in November.

"This agreement reached between the Senate, the House and the White House provides stability for the coming months, when we will have to resolve critical issues that directly affect middle-class families," Reid said to The New York Times.

How things will change, though, will be in large part determined by just who wins in November.

According to The Washington Post, many Republicans panned the deal and its increased spending. Many would like to see the budget cut below the current funding levels of about $1.043 trillion. Instead, the agreement raises funding to $1.047 trillion.

“It’s a lousy deal. But I think in the long run it gets us a better chance to get what we want," said Republican Rep. Mick Mulvaney of South Carolina.

Republicans and Democrats both think that prolonging the budget debate could prove disastrous for their election hopes in November.

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