Dueling US Senate, House views on funding raise likelihood of government shutdown

Dueling US Senate, House views on funding raise likelihood of government shutdown

The U.S. Senate and House of Representatives are at odds over a bipartisan bill to prevent a government shutdown. This divide suggests that the federal government is likely to experience its fourth shutdown in a decade, which is concerning for Wall Street. Senate Majority Leader Chuck Schumer and Senate Republican Leader Mitch McConnell are working together to pass a short-term extension of federal funding at current levels. The Senate bill includes funding for domestic disaster responses and aid for Ukraine. However, the details of the measure have not been revealed yet. The Senate is set to vote on whether to open debate on the bill. Meanwhile, House Speaker Kevin McCarthy plans to seek approval from Republicans for a bill that would also temporarily fund the government. However, this bill includes tough border and immigration restrictions that are unlikely to gain enough support from Democrats. President Joe Biden and McCarthy had previously agreed on discretionary spending for the fiscal year, but hardliners within the Republican party have rejected this deal. McCarthy’s bill would restart construction of the U.S.-Mexico border wall and tighten immigration policies. Critics argue that it would effectively end U.S. asylum for immigrants. Both McConnell and McCarthy acknowledge that government shutdowns are detrimental and urge their counterparts to reconsider their positions. If an agreement is not reached, hundreds of thousands of federal workers will be furloughed and various services will be suspended. The standoff has raised concerns at credit rating agency Moody’s, although the impact on U.S. creditworthiness remains uncertain. The government shutdown issue is also becoming a factor in the 2024 presidential election, with former President Donald Trump supporting the idea. The cuts demanded by hardliners only represent a fraction of the total U.S. budget, and popular benefit programs like Social Security and Medicare are not being considered for cuts. Biden has called on House Republicans to honor their deal with McCarthy. In response to their concerns, McCarthy has scheduled a procedural vote to take up spending bills that reflect conservative priorities but have no chance of becoming law. The outcome of this vote could complicate efforts to pass a stopgap spending bill and avoid a shutdown. Congress has experienced 14 government shutdowns since 1981, although most have been short-lived.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    2 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
    Women’s Demand for Shapewear – the big Trends
    3 years ago
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    3 weeks ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    3 weeks ago
    Dubai faces down airline rivals with $50 bln jet orders
    3 weeks ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    3 weeks ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    3 weeks ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    3 weeks ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    3 weeks ago

Follow @rushhourdaily: