A key congressional committee on Wednesday (local time) approved a $3.45 trillion budget framework for next year that embraces many of President Barack Obama's priorities but spends slightly less than he sought.

After a long debate that went well into the night, the House of Representatives Budget Committee approved the blueprint along party lines 24-15 in response to the $3.55 trillion plan Obama submitted last month.

While Obama did not get everything he wanted, Democrats who control the committee included most of his priorities, including significant new investments in education and reforming the $2.5 trillion healthcare system to cover millions of uninsured Americans.