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

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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.

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