(Bloomberg) -- U.S. President Donald Trump on Thursday urged House Republicans to back a two-year deal to increase federal spending and suspend the debt ceiling shortly before a scheduled vote on the measure.
“House Republicans should support the TWO YEAR BUDGET AGREEMENT which greatly helps our Military and our Vets. I am totally with you!” Trump said on Twitter.
The legislation would allow a $324 billion increase in discretionary spending over two years. If it passes the House on Thursday, it would head to the Senate, where Majority Leader Mitch McConnell has said he’s confident it will pass in a vote expected next week.
Congress would still need to scramble in September to pass spending bills adhering to the revised $1.3 trillion spending cap to avoid a shutdown when the new fiscal year begins Oct. 1.
But the measure under consideration Thursday would avert a potential U.S. default on payments in early September by extending the federal borrowing limit through July 31, 2021.
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