Economy

What to expect as Republicans try to salvage spending package, avoid government shutdown

The revolt by conservatives and the sudden infusion into negotiations of President-elect Donald Trump, Vice President-elect JD Vance and Elon Musk has House Speaker Mike Johnson and others struggling to find a way out of their political cul-de-sac and avoiding a government shutdown at 12:00:01 a.m. ET Saturday. 

Fox News is told that Trump’s unexpected demand to tackle the debt ceiling in this package has complicated matters exponentially. Many conservatives won’t vote for any debt ceiling increase. And Democrats are balking because Republicans reneged on the deal. 

Democrats have bailed out majority Republicans on every major fiscal bill this Congress. They appear to be done with helping Republicans.

Moreover, there may not be enough time to avoid a shutdown, especially if a new bill is to be produced – and conservatives demand that it lay fallow for three days before voting. 

That does not even address getting it through the Senate.

Many members with whom Fox News spoke Wednessday night are now resigned to a very high chance of a government shutdown – perhaps one which bleeds through Christmas. There simply isn’t a combination of votes that unlocks this puzzle yet.

Congress also hasn’t addressed disaster aid. Some conservatives are opposed to that for North Carolina and Florida without offsets. The fate of assistance after Hurricanes Helene and Milton is now in serious limbo.

This post appeared first on FOX NEWS

You May Also Like

Investing

2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less...

Latest News

Dong’s experience, both as head of the People’s Liberation Army Navy (PLAN) as well as operational assignments in the Chinese military’s Eastern and Southern...

Investing

The US was one of the world’s top silver producers in 2023, recording output of 1,000 metric tons (MT). While that’s far below first-place...

Investing

The Canadian pharmaceutical market is the eighth largest in the world and accounts for 2.2 percent of the global prescription drug market. But what...

Disclaimer: GreatWallStreetPublisher.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 GreatWallStreetPublisher.com

Exit mobile version