Placeholder canvas
HomeLatest NewsUpcoming Partial US Government Shutdown Looms Amid Ongoing Congressional Standoff

Upcoming Partial US Government Shutdown Looms Amid Ongoing Congressional Standoff

Published on

Republican U.S. House Speaker Kevin McCarthy has rejected a stopgap funding bill that has advanced in the Senate, bringing Washington closer to a possible government shutdown. If a funding bill is not passed and signed into law by President Joe Biden, a partial government shutdown could occur, leading to the furlough of federal workers and the suspension of various government services. The Senate’s plan, which passed with bipartisan support, would fund the government until November 17, giving lawmakers more time to agree on funding for the full fiscal year. McCarthy’s House of Representatives is focusing on passing separate full-year funding bills but does not currently support the Senate plan.

President Biden has urged Republican lawmakers to fund the government to avoid a potential shutdown, highlighting the impacts it would have on important work, such as cancer research and food safety. The standoff between the two parties has attracted the attention of ratings agencies, who warn of potential damage to the federal government’s credit-worthiness. House Republicans are seeking tougher legislation to address immigration at the U.S.-Mexico border and deeper spending cuts. The possibility of a shutdown has led to preparations being made in Washington and beyond, with federal agencies and Congress determining which workers would continue to work without pay and which would be furloughed.

Senate Minority Leader Mitch McConnell has expressed opposition to a government shutdown, emphasizing the importance of continued work from organizations such as U.S. Immigration and Customs Enforcement. McCarthy, however, faces pressure from hardline members of his own party who reject the previously negotiated spending deal and demand further cuts. Some Republicans have dismissed the risks of a shutdown or actively pushed for one. The standoff occurs just months after Washington faced the possibility of defaulting on its debt. Another downgrade of the U.S. credit rating could result in higher borrowing costs and increased debt.

Source link

Latest articles

Potential Benefits for Consumers in Capital One and Discover Merger Deal.

Capital One's recent announcement to acquire Discover Financial in a deal worth over $35...

Mixed stocks post breakout rally show fluctuation.

Walmart investors are eagerly anticipating a stock split scheduled for later today. This will...

8 dead in head-on crash in Madera County, California, says Highway Patrol.

Eight people tragically lost their lives in a devastating crash in Madera County, California....

Spotify HiFi and my subscription: both missing for three years.

In a surprising turn of events, Spotify is still teasing its long-awaited HiFi lossless...

More like this

Potential Benefits for Consumers in Capital One and Discover Merger Deal.

Capital One's recent announcement to acquire Discover Financial in a deal worth over $35...

Mixed stocks post breakout rally show fluctuation.

Walmart investors are eagerly anticipating a stock split scheduled for later today. This will...

8 dead in head-on crash in Madera County, California, says Highway Patrol.

Eight people tragically lost their lives in a devastating crash in Madera County, California....