Secret Assets Owners
  • Investing
  • World News
  • Politics
  • Stock
  • Editor’s Pick
World News

US congressional leaders unveil stopgap bill to avert shutdown

by January 15, 2024
January 15, 2024

WASHINGTON – Democratic and Republican leaders in the US Congress on Sunday unveiled a short-term spending bill that would avert a partial government shutdown and keep federal agencies operating into March.

The agreement aims to avert short-term chaos and buy more time to craft the complex spending legislation that funds government activity.

Government agencies that oversee transportation, housing, and other services are due to run out of funding by midnight on Friday and would have to scale back activity if new funding is not signed into law.

The Democratic-led Senate and Republican-controlled House of Representatives have been at odds over spending levels for months.

Senate Democratic Leader Chuck Schumer agreed on the measure with Republican House Speaker Mike Johnson, Senate Republican leader Mitch McConnell and House Democratic leader Hakeem Jeffries.

The legislation could run into difficulty in the House, where a faction of conservative Republicans have used disruptive tactics to press for lower spending levels.

Republicans control the chamber with a narrow 219-213 majority, leaving Mr. Johnson with little room for error. Some Republicans insist that any spending bills must also clamp down on the US-Mexico border.

Current funding is due to expire this week for federal programs involving transportation, housing, agriculture, energy, veterans and military construction.

Funding for other parts of the government, including defense, will continue through Feb. 2.

The new spending bill would extend the deadline to March 1 for the first group and March 8 for the second.

Mr. Schumer, the top Democrat in Congress, and Mr. Johnson, the top Republican, have agreed on a $1.59 trillion total for those bills.

That would give lawmakers more time to negotiate and pass the detailed spending legislation they should have passed before the start of the government’s fiscal year on Oct. 1, 2023.

The legislation covers roughly one-third of US government spending, which amounted to $6.1 trillion in the last fiscal year.

The remaining two-thirds includes retirement and health benefits which do not need to be approved annually by Congress, as well as interest payments.

Mr. Johnson spent much of last week in meetings with hardliners and other segments of his Republican conference, raising speculation that he could seek to revise his agreement with Mr. Schumer. But the speaker ultimately stood by the deal.

The federal government came close to a partial shutdown last autumn, when hardline Republicans ousted former Speaker Kevin McCarthy for reaching a bipartisan stopgap spending deal with Schumer. – Reuters

previous post
China’s military and government acquire Nvidia chips despite US ban
next post
China central bank holds medium-term rate but adds liquidity

You may also like

‘Business as usual’ in Taiwan’s Silicon Valley amid...

July 20, 2025

Automakers want US to move faster on self-driving...

June 27, 2025

Israel and Iran agree on ceasefire to end...

June 24, 2025

G7 abandons joint Ukraine statement as Zelenskiy says...

June 18, 2025

Trump’s tariffs to remain in effect after appeals...

May 30, 2025

Trump delays imposing 50% tariffs on EU until...

May 26, 2025

An aide, a diplomat and a spy: Who...

May 15, 2025

May Day protesters across US decry Trump policies,...

May 2, 2025

IMF slashes global outlook as White House says...

April 23, 2025

Brazil prosecutor general decides not to charge Bolsonaro...

March 28, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent Posts

  • Zelenskyy to meet with Trump in Washington, DC following US-Russia talks

    August 16, 2025
  • ‘Absolutely incredible’: B-2 bomber, F-35 escort set stage for Trump-Putin talks in Alaska

    August 16, 2025
  • Democrats doubt Trump will secure Ukraine cease-fire in Alaska summit with Putin

    August 16, 2025
  • Rutherford v. United States Brief: Defending the First Step Act

    August 15, 2025
  • Hawley opens probe into Meta after reports of AI romantic exchanges with minors

    August 15, 2025
  • About us
  • Contact us
  • Terms & Conditions
  • Privacy Policy

Copyright © 2025 SecretAssetsOwners.com All Rights Reserved.


Back To Top
Secret Assets Owners
  • Investing
  • World News
  • Politics
  • Stock
  • Editor’s Pick