The final vote count was 54-46. The Republicans have a narrow majority in the Senate with 53 seats.
The approval came just hours before the deadline, which was midnight American time, to approve the proposal and avoid a shutdown.
The proposal is now being sent forward for signing by President Donald Trump.
Criticism of Schumer
The final vote – where 51 yes votes were sufficient – was preceded by a preliminary vote that required 60 senators to back the proposal.
The vote count there was 62–38. Ten Democratic senators voted with their Republican colleagues, while Rand Paul was the only Republican to vote no.
The budget was approved in the House of Representatives on Tuesday.
Senate Minority Leader Chuck Schumer was one of the few Democrats who had announced in advance that they would support the Republican proposal.
Schumer has been heavily criticized by some other Democrats over the past 24 hours. In his defense, Schumer described how a shutdown would have been a gift to President Trump and his "terrible agenda".
"Dysfunction and chaos"
According to Schumer, Trump and Elon Musk would use a shutdown to "destroy crucial government activities at a much faster rate than now" through the so-called efficiency agency Doge.
But a group of Democratic members in the House of Representatives has urged Senate Democrats to block the proposal and instead negotiate a better budget compromise with the Republicans.
"The American people sent Democrats to Congress to combat Republican dysfunction and chaos", wrote 66 Democrats in a letter to Schumer.
