The United States Senate passed a bipartisan bill late Saturday, just three hours before a midnight deadline, to avoid a government shutdown.
The bill, which received overwhelming support with a vote of 88-9, funds the government for the next 45 days, until November 17.
In a Saturday afternoon post on X (formerly Twitter), President Joe Biden revealed that he has signed the bill.
“Tonight, bipartisan majorities in the House and Senate voted to keep the government open, averting an unnecessary crisis that would have inflicted unnecessary pain on millions of hardworking Americans,” Biden said in a statement after approval
He also commended bipartisan majorities in both the House and Senate for averting an unnecessary crisis.
All Democratic senators voted in favor of the measure, while the nine dissenting votes came from Republicans.
Earlier in the day, the House passed the bill by a 335-91 margin, following House Speaker Kevin McCarthy’s decision to seek Democratic support for the short-term funding bill.
Ultimately, the bill received more support from Democrats than Republicans in the House, with 90 Republicans voting against it while only one Democrat opposed it.
It’s worth noting that funding for Ukraine was absent from the bill, a provision sought by Democrats but opposed by many Republicans. However, the bill does include funding for disaster relief.
McCarthy had to rely on Democratic votes for approval because of opposition from the far-right faction within his party.
To gain approval, the speaker implemented a voting process that required a two-thirds supermajority, equivalent to about 290 votes in the 435-member House.
Before the vote, McCarthy emphasized the high cost of a government shutdown, especially for Americans in uniform.
He called on both Republicans and Democrats to prioritize the well-being of the American public and underscored the injustice of denying pay to those who risk their lives to defend the nation.
A government shutdown could also have affected crypto
A US government shutdown could also have adversely affected the progress of crypto bills pending a vote, which could affect the future of cryptocurrency regulation.
In July, lawmakers on the House Financial Services Committee voted in favor of several crypto-focused bills.
The Financial Technology and Innovation for the 21st Century (FIT) Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act and the Keep Your Coins Act gained support and were among the bills most prominent ones approved by the committee.
These bills could be submitted to a vote in the House during the current session of Congress.
However, a government shutdown would have halted lawmakers’ ability to move forward with any legislation.
Several of the bills pending a vote have bipartisan support and are likely to pass on floor votes, according to Ron Hammondthe Blockchain Association’s director of government relations.
He mentioned that “there are a lot of landmines politically that can shut down any bill or any deal.”