By John Kell and Alan Murray
October 30, 2015

Early this morning, the Senate gave final approval to a two-year budget deal, stitched together with gimmicks that would make Valeant’s accountants blush. The deal gives the President an extra $80 billion to spend, delays any budget and tax showdown until after the election, and allows ex-speaker John Boehner to get the hell out of Dodge. The business lobby largely supported the deal; tea partiers and GOP presidential candidates opposed it.


Fortune’s Tory Newmyer breaks down the business winners and losers as follows:




Big business generally. AT&T CEO Randall Stephenson said eliminating the threat of another shutdown will boost business confidence.


Big business specifically. The agreement junks a provision of Obamacare requiring big businesses to automatically enroll new hires in health plans.


Defense contractors. Half the $80 billion would go to defense spending.




Generic drug makers: The deal cuts subsidies for generics by $1.3 billion over ten years.


Hedge funds: The deal streamlines the process for audits, raising $11 billion over ten years.


Companies with defined benefit pensions: The deal increases premiums to the Pension Benefit Guaranty Corporation.


The deal cleared the way for Paul Ryan to be elected speaker Thursday. Good luck to him. More news below.


Alan Murray


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