Congress Nears Deal to Avert Government Shutdown

U.S. Congress negotiators are nearing an agreement on a temporary spending bill to keep the government funded through March 14, avoiding a partial shutdown. The stopgap measure maintains current budget levels due to Congress's delay in passing annual appropriations bills for the fiscal year starting October 1.

Negotiators from both the Republican and Democratic parties in the U.S. Congress are approaching a consensus on a stopgap spending bill. This move aims to prevent a partial government shutdown, previously scheduled to start on Saturday, by funding government operations until March 14, according to a source familiar with the discussions.

The proposed measure is expected to sustain the federal budget at approximately $6.2 trillion. It would continue financing various government functions, including military operations, air traffic control, and federal securities regulation, at their existing levels. The need for this temporary measure arises from Congress's failure to approve the dozen annual appropriations bills in time for the fiscal year that commenced on October 1.

Despite the delay in discretionary funding, 'mandatory' government programs such as Social Security and Medicare, which form about two-thirds of the budget, will automatically renew and continue to dispense retirement and healthcare benefits to Americans.

(With inputs from agencies.)