Connect with us

Hi, what are you looking for?

Economy

House ends week behind schedule with days until possible government shutdown

Congress is rapidly running out of time to hash out a spending deal to keep the government open past Nov. 17.

House GOP leaders are expected to put a short-term spending bill known as a continuing resolution (CR) on the floor for a vote Tuesday, a source told Fox News Digital Friday. Its text is expected to be released this weekend.

GOP leaders have primarily eyed two main routes for a CR — a ‘clean’ extension of last year’s funding, or a ‘laddered’ option that Speaker Mike Johnson, R-La., and conservative House GOP lawmakers have floated that would stagger funding deadlines for different needs.

If they go with the laddered approach, it’s almost guaranteed to force a showdown with the Senate. Majority Leader Chuck Schumer, D-N.Y., advanced a bill Thursday that the Senate will use as a vehicle for its own CR, which will likely be ‘clean.’

Conservatives have been opposed to a ‘clean’ CR, arguing it is an extension of progressive policies enacted by the previous Democrat-controlled Congress. Johnson was one of 90 Republicans to vote against the ‘clean’ CR brought by then-Speaker Kevin McCarthy, R-Calif., Sept. 30, which averted a government shutdown by just hours.

House Democratic Leader Hakeem Jeffries, D-N.Y., however, denounced the ‘laddered’ approach as ‘another right-wing joyride which would crash and burn the economy.’ 

‘A CR at the fiscal year 2023 levels is the only way to go,’ Jeffries said at a Thursday morning press conference.

The discussions also come as House Republicans fall behind on an ambitious appropriations schedule Johnson laid out the day he became speaker. 

Two spending bills were pulled from the schedule shortly before their expected votes this week — one concerning Transportation with Housing and Urban Development, the other on the Treasury and White House — over issues raised by both GOP moderates and hardliners. 

House Republicans have pledged to pass 12 appropriations bills, as opposed to Democrats’ mammoth ‘omnibus’ spending package right-wingers decried last year. They have currently passed seven, all which have been labeled non-starters by Schumer in the Senate.

On Schumer’s side of Congress, however, there has also been little action. Senators passed a bipartisan ‘minibus’ containing three of their individual spending bills. 

The House and Senate are also at least $120 billion apart on the overall numbers they are working to fund the government.

And while Johnson is still benefiting from the unity that House Republicans achieved with his election, it’s not clear how much longer he’ll have it. The division that caused the GOP’s ideological rifts are still very much present. 

‘I think there’s a honeymoon period here. I’m not sure how long it lasts,’ Rep. Thomas Massie, R-Ky., said Thursday after the second of two spending bills was pulled that week. ‘With what’s going on on the floor today, I think that indicates the honeymoon might be shorter than we thought.

‘Every time the CR expires, the speaker’s putting his head in the lion’s mouth and that’s why, you know, if I were advising the speaker, I would say do a one-year CR for everybody before the honeymoon period runs out.’

This post appeared first on FOX NEWS







    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!



    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Stock

    Union members at Ford, Stellantis and General Motors have ratified a new 4½-year contract, locking in at 11% pay increases secured after a six-week...

    Investing

    ASX-listed Antilles Gold (ASX:AAU, OTCQB:ANTMF) is an Australian mining company focused on gold and copper projects in Cuba through joint ventures with the Cuban...

    Editor's Pick

    California Gov. Gavin Newsom announced Sunday that he was appointing Emily’s List President Laphonza Butler as the replacement to former senator Dianne Feinstein (D-Calif.),...

    Editor's Pick

    JERUSALEM — Iran launched a massive attack of more than 300 missiles and drones toward Israel late Saturday, a stunning assault that put the...

    Disclaimer: investmentintellecthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 InvestmentIntellectHub.com