Trump Reaches Deal on New Federal Budget with Mitch McConnell, Nancy Pelosi

President Donald Trump AP

President Trump and congressional leadership have reached a deal on a new federal budget and lifting the debt ceiling, it was announced Monday night.

“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 said on Twitter.

“This was a real compromise in order to give another big victory to our Great Military and Vets!”

The deal is expected to boost the Pentagon’s budget — a victory for Trump and Republicans — while increasing spending for non-defense programs too, which will keep Democrats happy.

Defense spending will see a $22 billion bump in the next fiscal year — up to $738 billion — and increase to $740.5 million by FY 2021.

Non-defense spending will rise $27 billion to $632 billion in FY 2020 and tick up slightly to $634.5 billion the year after.

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SOURCE: New York Post, Nikki Schwab