Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Investing

GOP rebels, Dems sink House stopgap funding bill less than 48 hours before likely government shutdown

A group of GOP hardliners joined Democrats in sinking House Republicans’ stopgap funding bill on Friday, significantly raising the chances of a government shutdown happening over the weekend.

A procedural vote to advance the bill passed earlier in the day, but final passage failed on an 198 to 232 vote. Twenty-one Republicans voted against it, including Reps. Matt Gaetz, R-Fla.; Marjorie Taylor Greene, R-Ga.; and Nancy Mace, R-S.C., among others.

It’s a heavy blow to Speaker Kevin McCarthy, R-Calif., whose leadership has faced public threats throughout the spending battle so far from some in the right flank of his conference. 

Federal government funding expires at the end of the day on Sept. 30. If the House and Senate can’t strike a deal by then, a partial shutdown threatens to force all federal functions deemed ‘nonessential’ to grind to a halt. 

A short-term funding extension, known as a continuing resolution (CR), is almost certainly needed to give lawmakers more time to cobble together 12 individual spending bills for fiscal year 2024.

But Republican leaders have had a hard time so far corralling their conference into some kind of agreement. A faction of conservatives have for weeks said they are opposed to any CR, arguing it would be an extension of the previous Democratically controlled Congress. 

The House GOP’s CR proposal included an amendment to slash spending for its monthlong duration to fiscal 2022 levels, about $130 billion less than the current year’s. It also featured elements from House Republicans’ border security bill, and McCarthy said a new provision would mandate the creation of a bipartisan committee to study the federal debt.

McCarthy and his allies have tried to pressure the holdouts by accusing them of siding with Democrats and giving Senate Majority Leader Chuck Schumer, D-N.Y., as well as the White House more leverage to pass government funding without conservative policy riders. 

The speaker said before the vote on Friday morning, ‘Every member will have to go on record… Are they willing to secure the border or do they side with President Biden on an open border and vote against a measure to keep government open?’

House GOP lawmakers are huddling behind closed doors at 4 p.m. on Friday to discuss a path forward.

McCarthy was asked after exiting the House floor if he has any plan in his back pocket after the CR failed. ‘Nothing right now,’ he replied.

A government shutdown is all but assured now with no agreement on a short-term spending patch. 

The Senate is working on its own CR which would extend current funding levels for 45 days and include additional funding for Ukraine aid and U.S. disaster relief. 

But a straightforward extension of the previous Congress’ spending priorities is a nonstarter for a significant chunk of House Republicans. McCarthy has also pledged not to bring a short-term spending bill that includes Ukraine funding to the floor.

McCarthy did say he was open to working with Schumer on a CR provided it includes border security measures.

Fox News’ Aishah Hasnie contributed to this report.

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

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Economy

    Amp’s 223.67% Leap: Analyzing the Sudden Spike The cryptocurrency community has recently been set abuzz by the phenomenal rise of Amp (AMP). Just in...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Disclaimer: Deluxeinvestmentgroup.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 deluxeinvestmentgroup.com