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

Macron wanders alone by the Seine as grip...

October 7, 2025

US banks expect victory in capital requirements as...

October 3, 2025

Climate change and pollution threaten Europe’s resources, EU...

September 30, 2025

Trump applauds comedian Jimmy Kimmel’s suspension and renews...

September 19, 2025

IMF says US economy showing strains; tariffs pose...

September 12, 2025

Rumors, misinformation about Charlie Kirk killing rampant on...

September 12, 2025

Trump’s short list for Fed: Hassett, Warsh and...

September 7, 2025

New Zealand to introduce laws to speed up...

August 27, 2025

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

July 20, 2025

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

June 27, 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

  • Trump instructs Pentagon to ensure troops are paid despite government shutdown

    October 16, 2025
  • State Department aware of reports after American tourists attacked, 1 killed in popular seaside destination

    October 16, 2025
  • Trump reveals which major US city is next in crime crackdown while touting success of ‘Operation Summer Heat’

    October 15, 2025
  • Judge temporarily blocks Trump admin layoffs of thousands of federal workers during government shutdown

    October 15, 2025
  • House Republicans say GOP holds winning hand in shutdown fight with Democrats

    October 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