The U.S. Chamber of Commerce came out in favor of the bill.
Simplicity at the end, there was next to nothing in the agreement beyond authorization for the Treasury to resume borrowing and funding for the government to reopen.
House and Senate negotiators are to meet this fall to see if progress is possible on a broad deficit-reduction compromise of the type that has proved elusive in the current era of divided government.
Additionally, Health and Human Services Secretary Kathleen Sebelius is to be required to produce a report stating that her agency is capable of verifying the incomes of individuals who apply for federal subsidies under Obamacare.
Obama had insisted repeatedly that he would not pay "ransom" by yielding to Republican demands for significant changes to the health-care overhaul in exchange for funding the government and permitting the Treasury the borrowing latitude to pay the nation's bills.
Other issues fell by the wayside in a final deal, including a Republican proposal for the suspension of a medical-device tax in Obamacare and a Democratic call to delay a fee on companies for everyone who receives health coverage under an employer-sponsored plan.
The gradual withering of Republicans' Obamacare-related demands defined the arc of the struggle that has occupied virtually all of Congress' time for the past three weeks.
The shutdown began after Cruz and his tea party allies in the House demanded the defunding of the health-care law as a trade for providing essential government funding.
Obama and Reid refused, then refused again and again as Boehner gradually scaled back Republican demands.
The shutdown initially idled about 800,000 federal workers, but that soon fell to about 350,000 when Congress agreed to let furloughed Pentagon employees return to work. While there was widespread inconvenience, the mail was delivered, Medicare continued to pay doctors who treated seniors and there was no interruption in Social Security benefits.
Still, national parks were closed, to the detriment of tourists and local businesses, government research scientists were sent home and Food and Drug Administration inspectors worked only sporadically.
Obama and Boehner both came to the same conclusion -- that they would allow the shutdown to persist for two weeks, until it became politically possible to reopen government and address the threat of default at the same time.
As Republican polls sank, Boehner refused to let the House vote on legislation to reopen the entire government, insisting on a piecemeal approach that the White House and Reid rejected as insufficient.
As the Oct. 17 debt-limit deadline approached, there were warnings from European officials, as well as Cabinet members and bankers in this country, that failure to raise the debt limit invited an economic disaster far worse than the near-meltdown of 2008.
On Tuesday, the Fitch credit rating agency said it was reviewing its AAA rating on U.S. government debt for possible downgrade.
By then, the endgame was underway.
Late last week, Obama met with Boehner and other House Republicans in the White House. The session resulted in brief follow-up talks in which GOP aides suggested easing the across-the-board spending cuts in exchange for changes in benefit programs, such as making Medicare more expensive for better-off beneficiaries.
After that faltered, Reid and McConnell announced over the weekend that they were seeking a deal to solve the crises, and expressed hope they could quickly come to an agreement.
That effort was suspended Tuesday, a day of suspense in which Boehner made one last stab at the conservatives' solution. When his rank and file refused to coalesce around any proposal, he gave up, and McConnell and Reid returned to their labors.