The Senate reached a compromise on a two-year budget that increases spending by nearly half a trillion dollars on both the military and domestic programmes. This comes after a series of continuing resolutions, which are temporary spending bills that allow the government to function when the fiscal year has begun, but a budget has not been set.
It should pass the Senate, but there are questions about whether House Republicans will pass the budget because of their concerns about adding to the deficit. If it does pass, it could mark a significant step forward in getting the fiscal house in order.
To see just how chaotic the use of continuing resolutions has been, thankfully we have a piece from FiveThirtyEight exploring that issue. Spoiler: we have used it a lot since the late 1990s.
Credit for the piece goes to Gus Wezerek.