Government shutdown live updates: Biden signs bill that averts government shutdown

President Joe Biden will sign the short-term funding bill that Congress passed overnight on Saturday, according to the White House.

The White House Office of Management and Budget stopped "shutdown preparations" overnight in expectation that Congress would pass the short-term funding necessary to keep the government running.

"Because obligations of federal funds are incurred and tracked on a daily basis, agencies will not shut down and may continue their normal operations," an overnight White House statement said.

"There is a high degree of confidence that Congress will imminently pass the relevant appropriations and the president will sign the bill on Saturday," the White House said.

"Because obligations of federal funds are incurred and tracked on a daily basis, agencies will not shut down and may continue their normal operations," the White House added.

-ABC News' Michelle Stoddart

The Senate approved the House-passed short-term government funding bill in a just-after-midnight vote by a vote of 85-11.

The legislation will extend government funding until March 14. It provides $100 billion for disaster aid, $30 billion for farmers and a one-year extension of the farm bill.

The gavel technically fell in the Senate at 12:38, meaning that Congress technically missed its midnight deadline to avert a shutdown by 38 minutes.

President Joe Biden still needs to sign the bill, but a shutdown has for all intents and purposes been averted and no real tangible effects of it will be felt in the window between now and Biden's signing of the bill.

Before the vote, Majority Leader Chuck Schumer praised the work of the Senate in passing this bill.

"Tonight the Senate delivers good news for America: there will be no government shutdown right before Christmas," Schumer said. "After a chaotic few days in the House it's good news that the bipartisan approach in the end prevailed. It is a good lesson for next year: both sides have to work together."

He heralded the legislation as a "good bill".

"It is a good outcome for America and the American people," Schumer said.

The passage of the passage of the short-term funding bill marks the end of the 118th Congress. The Senate will now depart for the holidays, and return on January 3, 2025, when the 119th Congress will be sworn in.

-ABC News' Allison Pecorin

House Speaker Mike Johnson said the House will address the debt limit "early in January."

Asked whether he still wants to be speaker, Johnson paused before expressing his appreciation for the challenging leadership post.

"Being speaker of the House is a challenge in this modern era, but it's a challenge that we accept. It's a great honor to serve in the position. I wouldn't say it's the most fun job in the world all the time, but it's an important one. It's a hugely consequential moment for the country," he said.

"We are really grateful that tonight, in bipartisan fashion, with overwhelming majority of votes, we passed the American Relief Act of 2025. This is a very important piece of legislation," Johnson said.

Johnson said the bill is "a necessary step to bridge the gap, to put us into that that moment where we can put our fingerprints on the final decisions on spending for 2025. We also, in this bill, as you know, took care of Americans who desperately needed and deserve the assistance.

"We also took care of our farmers, many of whom were on the brink of collapse because of Bidenomics, frankly, because the inflationary cost of their inputs," he added.

The speaker said he was in "constant contact with President Trump" and spoke with him 45 minutes ago.

"He knew exactly what we were doing and why, and this is a good outcome for the country. I think he certainly is happy about this outcome as well," he said.

Johnson said he talked to Elon Musk an hour ago, saying, "We talked about the extraordinary challenges of this job, and I said, 'Hey, you want to be speaker of the House?' I don't know. He said, this may be the hardest job in the world."