House passes bipartisan budget and debt deal

WASHINGTON -- A hard-won, bipartisan budget and debt compromise between President Donald Trump and Speaker Nancy Pelosi has easily passed the Democratic-controlled House.

The bill would head off another government shutdown, permit the Treasury to borrow freely to pay the government's bills, and lock in place recent budget gains for the Pentagon and domestic agencies.

It's a must-do measure that represents a relatively rare moment of detente in President Trump's Washington.

The legislation would take care of the two biggest items on Washington's essential agenda. It would suspend the debt limit for two years to avert a first-ever default on U.S. payments and override draconian spending limits to prevent $125 billion in automatic spending cuts from hitting government agencies.