He said there were no "poison pills" that could trigger political opposition, but the full text of deal has not yet been released.
An array of lawsuits against this emergency order are now proceeding through the federal courts, with the expectation that the Supreme Court will issue a ruling next year.
Trump cheered that the budget had no "poison pills," including measures that would block President Trump from using his national emergency authority to reappropriate funding to build a wall along the southern border.
If enacted into law, non-defense domestic funding would be $100-B higher than when President Trump took office in January 2017. "I'm anxious the House is willing to give him far too much discretion to take money and move it anywhere he wants including a wall". The government has not had a balanced, no-deficit budget - when tax receipts equal spending - since 2001, and there have only been five such years since the 1960s. Because talks remained fluid, it's possible negotiators could seek to change the debt limit timeline based on input from Trump.
If the deal comes together, the House and Senate could try passing the measure as early as this week.
The structure of this potential agreement will upset members on both sides of the aisle - and a certain powerful component of the White House negotiating team.
Mnuchin warned congressional leaders in mid-July that the government could run out of money this fall, urging lawmakers to ensure the borrowing limit was raised before the budget year ended on September 30. Trump's request for defense budget was $750 billion.
Trump Sues To Keep NY Taxes From Congress
Trump accused congressional Democrats of seeking his tax returns and personal financial information exclusively to embarrass him. State income tax returns often contain much of the same information as federal returns.
Under the new deal, the military budget would be $738 billion for the fiscal year 2020, a 3 percent increase from current-year levels. Larry Kudlow, head of the Trump administration's National Economic Council, said recently the national debt was "quite manageable" and "not a huge problem right now at all" in an optimistic assessment on the ballooning national debt. Tuesday's vote was by an overwhelming 90-8 margin. "I'll never understand why our Democratic colleagues treat funding the United States armed forces like a Republican priority that somehow needs to be matched up with additional spending that Democrats like to make it palatable for them".
What Republicans accomplished with one branch of government was erased when their power grew. "In fact, in my view, it's the most important obligation of the entire Congress: Securing the resources we need to 'provide for the common defense.' This deal does it".
A bipartisan deal has been reached to suspend the USA debt limit and avert another devastating government shutdown until after the next presidential inauguration on July 31, 2021.
The pact would defuse the debt limit issue for two years, meaning that Trump or his Democratic successor would not have to confront the politically hard issue until well into 2021.
After the president's tweet, Schumer and Pelosi quickly hailed the "bipartisan agreement" in a statement, saying they were "pleased that the Administration has finally agreed to join Democrats in ending these devastating cuts". They stressed that the agreement increases both defense and domestic spending and said they had agreed to spending offsets that were part of an earlier bipartisan agreement. This was reduced to $77 billion in the final deal, almost all of it amounting to bookkeeping tricks involving the 2028 and 2029 fiscal years, rather than immediate cuts or revenue increases over the next two years.
With members of the conservative House Freedom Caucus railing against the deal, White House legislative aides spoke to a closed-door group of top House GOP lawmakers on Tuesday evening, where they reiterated that Trump supports the deal, according to people in the room.
About two and a half months ago, Congressman Chip Roy (R-TX-21) gathered signatures for aletter appealing to House Speaker Nancy Pelosi (D-CA) to adhere to the budget caps set by theBudget Control Act of 2011 (BCA).