The daily business briefing: July 26, 2019

The House passes a $2.7 trillion budget deal, four big automakers reach a deal with California on fuel efficiency, and more

Traffic in California
(Image credit: Getty Images)

1. House passes $2.7 trillion budget deal

The House on Thursday passed a $2.7 trillion bipartisan budget deal that would increase military and domestic spending while raising the debt ceiling by $320 billion for two years. Despite President Trump's support for the agreement, many Republicans made it clear they were unhappy the bill lacked spending cuts they wanted. Still, the bill passed 284-149, with 65 Republicans joining the Democratic majority and 132 Republicans voting against it. House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin led negotiations on the deal, which now goes to the Senate, where it is expected to pass. It will then go to Trump's desk, and he's said he'll sign it.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Explore More
Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.