• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
PoliticsCongress

The spending bill that averted a shutdown shrank from more than 1,500 pages to just 100—here’s what was cut

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
December 21, 2024, 1:44 PM ET
Speaker of the House Mike Johnson during a vote on a revised spending bill on Thursday.
Speaker of the House Mike Johnson during a vote on a revised spending bill on Thursday.Allison Robbert—AFP via Getty Images
  • Congress avoided a government shutdown after passing a spending bill that was revised from an original version, which Elon Musk and President-elect Donald Trump sank.

After a wild week of last-minute revisions and negotiations, Congress passed a shorter spending bill in the middle of the night early Saturday, averting a government shutdown.

Recommended Video

The result was legislation that ran just over 100 pages. In addition to funding the government at current levels until mid-March, it provides $110 billion in aid for natural disaster survivors and farmers, while granting an extension to the farm bill.

By contrast, the original version of the spending bill that was negotiated by House Speaker Mike Johnson and congressional Democrats was more than 1,500 pages.

The change came after Elon Musk and President-elect Donald Trump blew up what had looked like a done deal, raising the odds of a government shutdown.

On Wednesday, Musk ripped the bipartisan spending package, calling it one of the worst bills ever written and demanding that it be killed. Trump joined in and threatened any Republican who voted for it, forcing Johnson to scrap the bill that he was defending earlier.

On Thursday, a shorter version backed by Trump failed to pass the House as a bloc of conservative Republicans rejected his demand to increase the debt limit, which wasn’t in the earlier bill.

The bill that cleared Congress early Saturday ditched the debt-ceiling boost while also cutting other provisions. But Brian Riedl, a senior fellow at the conservative-leaning Manhattan Institute think tank, told the Washington Post that despite slashing the page count, the new funding deal won’t translate to much savings for taxpayers.

That’s due in part to the fact that some of the language that was taken out wasn’t directly related to the budget, as must-pass bills often get unrelated “riders” attached to them. Here’s what else came out of the spending package.

The original bill sought to reform pharmacy benefit managers, who are the middlemen between drug manufacturers and insurers, by requiring more transparency on prices while tightening pricing requirements in Medicaid and Medicare plans. PBMs have come under more scrutiny lately, and even Trump called them “rich as hell.”

Lawmakers also denied themselves a pay hike as the initial spending package called for a 3.8% cost-of-living adjustment to their base salary of $174,000 a year. It would have been their first raise since 2009.

Other provisions that were dropped include a crackdown on “junk fees” charged by ticket sellers and hotels, criminalization of deepfake “revenge porn,” further restrictions on U.S. investments in China, funding for pediatric cancer research, and reimbursements for recipients of foods stamps who had their benefits stolen.

While the spending bill also removed language to give the municipal government of Washington, D.C., greater control over RFK stadium, the Senate approved that in a separate vote via a stand-alone bill.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump AI and crpto czar David Sacks sits next to Meta CEO Mark Zuckerberg at a dinner table in the White House as Zuckerberg turns to Sacks and says something.
AIAmerican Politics
Tech billionaires convinced Trump to back off an AI executive order. But much of MAGA favors AI regulation
By Jeremy KahnMay 22, 2026
9 hours ago
f
PoliticsCongress
‘You kind of ruined it with your trans obsession’: House points fingers as Smithsonian Women’s museum funding fails
By Lisa Mascaro and The Associated PressMay 22, 2026
15 hours ago
kirk
North AmericaSocial Media
Fired bird conservationist settles with state of Florida over Charlie Kirk dispute for $485,000
By Hannah Schoenbaum and The Associated PressMay 22, 2026
15 hours ago
pizza
PoliticsRestaurants
‘Earth-shaking event for New York pizza’ looms as flour ban hits 80% of crusts citywide
By Jake Offenhartz and The Associated PressMay 22, 2026
15 hours ago
cox
CommentarySuccession
McKinsey studied 200 family business successions. The biggest problem wasn’t the heir — it was the outgoing CEO
By Acha Leke and Chaitali MukherjeeMay 22, 2026
18 hours ago
zohran
PoliticsWorld Cup
Mamdani’s campaign for cheap World Cup tickets delivers 1,000 for city of 8 million
By The Associated PressMay 21, 2026
1 day ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
2 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
3 days ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
3 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
14 hours ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
2 days ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
13 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.