What the $1.1 trillion spending bill contains

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The Hill:

The $1.1 trillion spending bill approved by the Senate Saturday includes emergency funding and dozens of policy riders that will affect policy throughout the government.

 

The main purpose of the bill is to keep the government funded, and the so-called “cromnibus” includes 11 appropriations bill that will fund most of the government through September 2015.

 

It also includes a continuing resolution (CR) that funds the Department of Homeland Security through Feb. 27. This is to answer GOP critics of President Obama's immigration executive actions, who had pushed to defund the agency.

Here's a look at some of the key riders in the bill:

Wall Street un-reform

 

The bill includes language repealing part of the Dodd-Frank Wall Street reform law that will allow banks covered by the Federal Deposit Insurance Corporation to directly engage in derivatives trading.

 

This set off the biggest political storm for the legislation, as Sen. Elizabeth Warren (D-Mass.) led a liberal insurrection against the White House, which decided not to fight Republicans over the measure.

 

Wall Street lobbied for the change, and the bill will be sent to Obama with the language in it.

 

Campaign finance

 

The bill also raises the limits on what people can give to political committees each year, greatly increasing the money wealthy people can donate. The provision would allow a wealthy donor to contribute a total of more than $1.55 million to a national party.

 

House Democratic Leader Nancy Pelosi (D-Calif.) lambasted the change in a floor speech in which she broke with the White House over the bill.