Biden signs bill funding government through March, averting shutdown

US President Joe Biden signed a three-month stopgap funding measure into law on Saturday after Congress acted at the last minute to avert a government funding lapse, Report informs via Axios.

Both chambers of Congress passed the measure in a flurry of activity late Friday and into Saturday morning, capping a chaotic week on Capitol Hill that demonstrated President-elect Trump's influence over lawmakers.

The House and Senate hours earlier passed the measure by overwhelming margins.

The funding agreement runs through March 14 and also includes a one-year Farm Bill extension and over $100 billion in disaster relief for hurricane-ravaged areas.

"This agreement represents a compromise, which means neither side got everything it wanted," Biden said in a statement.

"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."

"That's good news for the American people, especially as families gather to celebrate this holiday season," the president added.

Trump blew up an initial bipartisan agreement earlier this week, demanding that Congress also raise the debt limit before the end of the year. That led to a revised bill that would have suspended the debt limit for two years.

That measure failed spectacularly in the House on Thursday night, and the debt limit provision was nixed.