Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Shutdown imminent as House, Senate hold split courses US government funding By Reuters

by Index Investing News
September 30, 2023
in Stocks
Reading Time: 3 mins read
A A
0
Home Stocks
Share on FacebookShare on Twitter


5/5

© Reuters. U.S. House Speaker Kevin McCarthy (R-CA) speaks with reporters after a House Republican conference meeting following a series of failed votes on spending packages at the U.S. Capitol ahead of a looming government shutdown in Washington, U.S. September 29,

2/5

By David Morgan and Makini Brice

WASHINGTON (Reuters) – The U.S. government looked all but certain to enter a partial shutdown on Sunday as House Republicans and Senate Democrats held to starkly different courses on funding.

The Democratic-majority Senate planned another procedural vote on a stopgap bill to fund the government through Nov. 17, which has been moving forward with broad bipartisan support, which the Republican-controlled House of Representatives has rejected so far.

House Republican lawmakers on Friday blocked their own party’s stopgap bill, known as a “continuing resolution” or CR. That bill included multiple conservative policy additions that Democrats opposed, and had no chance of winning the Senate support it would need to become law.

Infighting among Republicans who control the House by a 221-212 margin has pushed the United States to the brink of its fourth partial shutdown in a decade, as the chamber has been unable to pass legislation that would keep the government open beyond the Oct. 1 start of the fiscal year.

Hundreds of thousands of federal employees will lack the funding to do their jobs if the two chambers do not send a spending bill for Democratic President Joe Biden to sign into law by 12:01 a.m. (0401 GMT) on Sunday.

Federal agencies have already drawn up detailed plans that spell out what services must continue, like airport screening and border patrols, and what must shut down, like scientific research and nutrition aid to 7 million poor mothers.

Most of the government’s 4 million-plus employees would not get paid, whether they were working or not.

House Republicans emerging from a closed-door party meeting on Saturday said they expected to vote for a measures that would ensure that members of the military, border security and the Federal Aviation Administration were paid during the shutdown. Those would only take effect if the Senate passed it and Biden signed it into law.

“We will vote to keep our troops paid and fully operational,” said Representative Darrell Issa.

Some hardline Republicans said a shutdown was worth it to achieve their goals.

“I fear the majority of the conference is willing to do anything to avoid the discomfort of a potential government shutdown,” Representative Bob Good told reporters. “If we don’t have the willingness to say ‘no’ and the resolve to say ‘no,’ the Senate and the White House will not accept any spending cuts.”

CREDIT CONCERNS

The standoff comes just months after Congress brought the federal government to the brink of defaulting on its $31.4 trillion debt. The drama has raised worries on Wall Street, where the Moody’s (NYSE:) ratings agency has warned it could damage U.S. creditworthiness.

Congress typically passes stopgap spending bills to buy more time to negotiate the detailed legislation that sets funding for federal programs.

This year, a group of Republicans has blocked action in the House as they have pressed to tighten immigration and cut spending below levels agreed to in the debt-ceiling standoff last spring.

On Friday, 21 Republicans joined with Democrats to defeat legislation that reflected those demands, saying the chamber should focus instead on passing detailed spending bills for the full fiscal year, even if it leads to a shutdown in the near term.

That angered other Republicans, who said they had blown an opportunity to advance conservative policies.

“There’s a lot of frustration growing with the 21 individuals who chose to vote ‘no’ on what was a very good plan,” Republican Representative Nicole Malliotakis of New York said on Friday.

Republican House Speaker Kevin McCarthy said on Friday the chamber might try to rely on Democrats to help pass a stopgap bill that would continue funding at current levels, even though that could prompt a challenge to his leadership from hardliners.

The Senate is due to hold a procedural vote at 1:00 p.m. (1700 GMT) to extend government funding through Nov. 17. It enjoys wide support from Republicans and Democrats, but the chamber’s arcane rules mean that a vote on final passage could be delayed until Tuesday.

Even if that passes, the two chambers would have to resolve their differences before sending any bill to Biden’s desk. That could pose another hurdle, as McCarthy said he opposed $6 billion in Ukraine aid included in the Senate bill.

“We continue to try to find a way out of this,” he said on Friday.



Source link

Tags: CoursesFundinggovernmentHoldHouseimminentReutersSenateshutdownSplit
ShareTweetShareShare
Previous Post

Goals, assists, stats & FPL info at Spurs

Next Post

Dollar Tree Stock: My Wife Says Buy DLTR Weakness (NASDAQ:DLTR)

Related Posts

LRGF: Low-Charge Issue ETF With Convincing Efficiency Is A Purchase (NYSEARCA:LRGF)

LRGF: Low-Charge Issue ETF With Convincing Efficiency Is A Purchase (NYSEARCA:LRGF)

by Index Investing News
May 25, 2025
0

This text was written byObserveVasily Zyryanov is a person investor and author.He makes use of numerous methods to seek out...

TreeHouse Meals: Effectivity Beneficial properties Priced In, Truthful Valuation Helps Maintain (NYSE:THS)

TreeHouse Meals: Effectivity Beneficial properties Priced In, Truthful Valuation Helps Maintain (NYSE:THS)

by Index Investing News
May 24, 2025
0

This text was written byObserveI'm an enthusiastic fairness analysis and funding analyst with a powerful curiosity in making use of...

Seagate Know-how Holdings plc (STX) Seagate 2025 Investor and Analyst Convention – (Transcript)

Seagate Know-how Holdings plc (STX) Seagate 2025 Investor and Analyst Convention – (Transcript)

by Index Investing News
May 23, 2025
0

Seagate Know-how Holdings plc (NASDAQ:STX) Seagate 2025 Investor and Analyst Convention Name Could 22, 2025 9:00 AM ET Firm Members...

2 BDCs That Qualify For The Retirement Earnings League

2 BDCs That Qualify For The Retirement Earnings League

by Index Investing News
May 23, 2025
0

This text was written byObserveRoberts Berzins has over a decade of expertise within the monetary administration serving to top-tier corporates...

Booz Allen Hamilton Holding Company 2025 This fall – Outcomes – Earnings Name Presentation (NYSE:BAH)

Booz Allen Hamilton Holding Company 2025 This fall – Outcomes – Earnings Name Presentation (NYSE:BAH)

by Index Investing News
May 23, 2025
0

This text was written byObserveSearching for Alpha's transcripts staff is liable for the event of all of our transcript-related initiatives....

Next Post
Dollar Tree Stock: My Wife Says Buy DLTR Weakness (NASDAQ:DLTR)

Dollar Tree Stock: My Wife Says Buy DLTR Weakness (NASDAQ:DLTR)

Hemisphere Energy Offers A 10% Dividend Yield This Year (TSXV:HME:CA)

Hemisphere Energy Offers A 10% Dividend Yield This Year (TSXV:HME:CA)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Violence, Our Brains, and Our Darkest Selves

Violence, Our Brains, and Our Darkest Selves

June 11, 2023
A fiscal struggle is brewing within the courtroom of Donald Trump

A fiscal struggle is brewing within the courtroom of Donald Trump

December 20, 2024
From proper place, improper time, to proper place, proper time

From proper place, improper time, to proper place, proper time

July 21, 2024
CBAK Power Know-how, Inc. (CBAT) This fall 2024 Earnings Name Transcript

CBAK Power Know-how, Inc. (CBAT) This fall 2024 Earnings Name Transcript

March 17, 2025
We must always be taught from historical past with regards to warfare

We must always be taught from historical past with regards to warfare

April 25, 2022
These 20 Housing Markets Are Cooling the Fastest, According to Redfin

These 20 Housing Markets Are Cooling the Fastest, According to Redfin

October 10, 2022
What Occurs to The Housing Market if Mortgage Charges Keep Excessive?

What Occurs to The Housing Market if Mortgage Charges Keep Excessive?

August 4, 2024
ukraine: Indian businessman flees Kyiv, lives off long-life meals his manufacturing facility makes in Ukraine | India Information

ukraine: Indian businessman flees Kyiv, lives off long-life meals his manufacturing facility makes in Ukraine | India Information

March 12, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In