The United States Congress has passed a bill to reopen the government and raise the federal debt limit, with hours to spare before the nation risked default.
The Democratic-controlled Senate's bipartisan compromise won approval by 81 votes to 18.
The bill was then passed by 285-144 in the House of Representatives, whose Republican leadership begrudgingly agreed to back support the measure on Wednesday.
It came hours before the deadline to raise the $US16.7 trillion limit, the BBC reports.
The deal yanks the US back from the brink of a budgetary abyss by extending the treasury's borrowing authority until 7 February next year.
It also funds the government to 15 January, reopening closed federal agencies and bringing hundreds of thousands of furloughed employees back to work.
The bill also creates a panel of Senate and House members to draw up a longer-term budget agreement.
Shortly after Wednesday evening's vote, President Barack Obama said at the White House there was "still a lot of work ahead of us, including our need to earn back the trust of the American people".
Mr Obama urged both Democrats and Republicans to now concentrate on issues that improve the lives of ordinary people.
"I want to thank the leadership for coming together and getting this done. Hopefully next time, it won't be in the 11th hour. One of the things that I said throughout this process is, we've gotta get out of the habit of governing by crisis."
On the floor of the US Senate, Democratic leader Harry Reid called the legislation "historic", saying it would provide time for Congress to work toward a long-term budget agreement. "Our country came to the brink of disaster."
Economists have warned of global economic consequences unless an agreement to raise the US government's borrowing limit were reached.
The US Treasury has been using what it has called "extraordinary measures" to pay its bills since the nation reached its current debt limit in May. Those methods will be exhausted by 17 October, US Treasury Secretary Jack Lew has said.
CNN reports the main Dow Jones stock index jumped 200 points when the House vote was announced.
Meanwhile, ratings firm Standard & Poor's said on Wednesday that the partial US government shutdown - the first in 17 years - had already shaved $US24 billion from the American economy and would cut growth significantly in the fourth quarter.
