Forty-eight hours after Senate Budget Committee Chairwoman Patty Murray and House Budget Committee Chairman Paul Ryan unveiled their budget deal for fiscal years 2014 and 2015, the House has passed the legislation, sending it to the Senate.
The vote was 332-94, with Republicans voting 169-62 and Democrats voting 163-32.
On the plus side, the legislation will increase overall spending levels in the short-term, but will reduce the deficit over the next decade with back-loaded spending cuts and revenue increases. It will also take the possibility of another government shutdown off the table.
That being said, the legislation fails to extend emergency unemployment benefits, which are set to expire at the end of the year and will leave 1.3 million families without benefits. Republicans blocked a Democratic effort to allow a vote on an unemployment benefits extension, but most Democrats nonetheless supported the legislation, saying that they will continue to fight for unemployment insurance at the beginning of the year.
3:32 PM PT: The House is now voting on the Defense Authorization bill, which is sailing to an easy victory. Earlier they passed a short-term extension of the Farm Bill. After the defense vote, the House will be on vacation until next year.