- Analytics
- News and Tools
- Market News
- US President Biden signs $1.66 trillion FY 2023 government funding bill
US President Biden signs $1.66 trillion FY 2023 government funding bill
Reuters came out with the news suggesting more US spending and additional help to Ukraine in the fiscal year (FY) 2023 during early Friday in Asia-Pacific, late Thursday in the West.
The news quotes the White House Statement as saying, “President Joe Biden on Thursday signed a $1.66 trillion bill funding the U.S. government for the fiscal year 2023.” Reuters also stated that the bill was passed by Congress in the last week and was recently signed by Biden while he is on vacation to the Caribbean island of St. Croix.
Key quotes
The legislation includes record military funding, emergency aid to Ukraine, more aid for students with disabilities, additional funding to protect workers' rights and more job-training resources, as well as more affordable housing for families, veterans and those fleeing domestic violence.
The 4,000-plus page bill passed the Senate on a bipartisan vote of 68-29, with the support of 18 of the 50 Senate Republicans. It passed the House of Representatives on a largely party-line vote of 225-201.
Market implications
The news fails to gain any major response and should favor the US Dollar, considering the higher spending and more geopolitical fears the bill is likely to produce.
Also read: US Dollar Index Price Analysis: DXY bears are well-set to revisit monthly low
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
