Yesterday evening the Senate passed the Bipartisan Budget Act of 2013 by a vote of 64 to 36. The deal, announced last week by Sen. Patty Murray (D-Wash.) and Rep. Paul Ryan (R-Wis.) would set spending at $1.012 trillion for fiscal year (FY) 2014 and partially replace scheduled sequestration cuts for FYs 2014 and 2015. The House passed the deal last week by a vote of 332 to 94 and it will now go to President Obama's desk, where he is expected to sign it into law. The deal would provide $23 billion in deficit reduction and $65 billion in sequester relief for FY 2014 and FY 2015 through a series of offsets.
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