Statement by the Press Secretary on S. 25, S. 540

On Saturday, February 15, 2014, the President signed into law:

S. 25, which extends for an additional fiscal year the current‑law sequestration of certain Federal direct spending; repeals a current-law reduction in annual cost-of-living adjustments to military pensions for current military members and retirees; and establishes a $2.3 billion transitional fund for Medicare payments for physicians services in 2017; and

S. 540, the "Temporary Debt Limit Extension Act," which temporarily suspends the public debt limit until March 15, 2015.