Biden signs budget bill to avoid government shutdown

President Joe Biden on Saturday signed the stopgap spending bill in order to avert a government shutdown. 

The legislation will keep the government funded through March 14. It includes $100 billion in disaster aid and funding for farmers, according to NBC News.

However, it does not include a provision to suspend the debt limit that President-elect Donald Trump sought to include.

"This agreement represents a compromise, which means neither side got everything it wanted," Biden said in a statement, according to the outlet. "But it rejects the accelerated pathway to a tax cut for billionaires that Republicans sought, and it ensures the government can continue to operate at full capacity."

Senators also approved a massive Social Security bill that would raise benefits for more than two million Americans, according to The Hill.

Republicans who opposed the legislation argue its passage would harm the current Social Security system by accelerating its insolvency dates. Experts predict that retirement benefits will run out in 2033, without any changes, per CNBC.