WASHINGTON, January 8. /TASS/. Representatives of Democratic and Republican parties in Congress have reached an agreement on financing federal government activities in 2024, US President Joe Biden said in a written statement released by the White House press service.

"The bipartisan funding framework congressional leaders have reached moves us one step closer to preventing a needless government shutdown and protecting important national priorities," Biden said. The budget stipulated by the funding framework meets requirements of the White House, he added.

The budget of the US government will total $1.6 trillion in 2024, Reuters news agency said, citing Speaker of the US House of Representatives Mike Johnson. Defense spending will account for $886 bln and $704 bln will be allocated for other expenses.

"Now, congressional Republicans must do their job, stop threatening to shut down the government, and fulfill their basic responsibility to fund critical domestic and national security priorities, including my supplemental request. It’s time for them to act," Biden noted.