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Senate Passes $1.65T Sweeping Government Funding Bill

US
  • The US Senate has passed a wide-ranging government bill 68-29 and now sends it to the House, where DJ expects quick approval from the House, having until the end of Friday to approve the package.
  • Treasuries cheapen circa 1bp on a day of sizeable volatility heading into the Christmas break.
  • Headlines have noted the inclusion of $45B for Ukraine and a ban on TikTok usage from government devices.
  • Further from Bloomberg: “The sweeping omnibus is filled with provisions that would expand some Medicaid benefits, help Americans save for retirement, reform the presidential electoral vote-counting process and ban TikTok on government devices. Lawmakers later added two measures that protect pregnant and nursing women in the workplace, including the so-called PUMP Act, which requires employers to provide workers time to breast feed.”
  • Senate Majority Leader Schumer (D-N.Y.) has previously said "This is one of the most significant appropriations packages we have done in a long time"

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