U.S. House Votes 316 - 113 to Pass Tax, Spending Bill; Will Lift Ban on Crude Exports (USO) (OIL)

December 18, 2015 9:51 AM EST

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(Updated - December 18, 2015 9:58 AM EST)

U.S. House votes 316 - 113 to pass tax, spending package.

UPDATE - The bill averts a government shutdown and also ends a 40-year ban on crude oil exports.

The bill -- which will finance the government through 2016 -- will now move to the Senate for a vote later today.

With the measure to lift the ban on crude exports, extensions of solar and wind energy tax credits will also be implemented.

Around $680 billion in tax breaks will also be revived, according to reports.

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