Late Thursday night, the U.S. House narrowly approved a $1 trillion federal spending bill that will keep most of the government funded through September, despite significant opposition from Democratic party members over a Wall Street provision and a number of Republicans withholding support over various concerns.
Passing by a vote of 219-206 following last minute lobbying efforts by both House Republicans and the White House, the bill now moves on to the Senate, who, due to the quick passage of a stopgap measure, has until midnight Saturday to pass the measure and keep the government open, reported The Hill.
Sixty-seven Republicans split from the party line to oppose the bill on ground that doesn't sufficiently challenge President Barack Obama's executive immigration action, unfairly opens up the campaign finance doors, does little to address spending cuts and fails to dismantle the Affordable Care Act, The Huffington Post reported.
Only 57 Democrats voted in favor of the measure, while 139 opposed it. Much of the party was vocal in its criticism of a provision that was referred to as a backroom Wall Street deal allowing banks to trade in risky derivatives and stake their losses with taxpayer-back federal money - the same kind of behavior that contributed to the 2008 financial crisis. Many also objected to campaign finance provisions that allow wealthy donors to dramatically increase party contributions.
House Minority leader Nancy Pelosi, D-Calif., opposed the bill and criticized the White House, while the Minority Whip Steny Hoyer, D-Md., backed it.
"This is ransom, this is blackmail," Pelosi said during a floor speech, reported The Huffington Post. "We don't get a bill unless Wall Street gets its taxpayer-funded coverage."
Many Democrats who opposed the Wall Street provision said in the end, it was better to pass the bill than risk a shutdown, and the White House launched a last minute lobbying push to sway more Democrats to vote in favor.
Despite Obama having reservations over some provisions, like the roll back of risky Wall Street behavior he worked so hard to tighten with Dodd-Frank, White House press secretary Josh Earnest said overall, the president supports its passage and would sign the bill.
"This is the kind of compromise that the president's been seeking from Republicans for years now," he said in an appearance on MSNBC, according to HuffPost.
