WASHINGTON D.C. -- Government shutdown was averted as the House and Senate quickly approved interim spending in the final hour Friday night .
This comes after President Barack Obama and congressional leaders reached a $38 billion spending cut agreement.
The interim bill is necessary so broader legislation can be finalized.
President Obama hailed the deal as "the biggest annual spending cut in history."
The bill will cut spending by $500 billion over 10 years.
A shutdown would have closed national parks, tax-season help lines and other popular services.
The Democrats and the White House rebuffed Republican attempts to curtail the reach of the Environmental Protection Agency and deny federal funds to Planned Parenthood.
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