Share This Article
US Inches Toward Shutdown as Spending Deadlock Deepen
The US government moved closer to a possible shutdown this weekend, as the House of Representatives failed to pass a stopgap spending bill before the new fiscal year deadline.
The bill, which would have funded the government through early December, was blocked by Republicans who demanded more money for defense and border security. Democrats wanted to add more money for health care, education, and other domestic priorities.
Without a deal, the government is set to run out of funding when the new fiscal year begins on Saturday, forcing the government to partially shutter operations.
It is unclear what the next steps will be. President Donald Trump has indicated that he is willing to negotiate, but the White House has not yet announced how he plans to move forward.
The Senate will likely take up the House bill before the Saturday deadline, but it is unclear if amendments will be accepted, or what other options Republicans and Democrats can agree on.
In the event of a government shutdown, essential services would continue, including those related to national security and public safety. However, employees deemed “non-essential” would be furloughed and departments like the IRS would close down.
The last government shutdown occurred in 2013 and lasted 16 days.
US Government Shutdown This Weekend
The United States government is headed toward a partial shutdown this weekend after the House of Representatives failed to pass a spending bill that would keep it funded. A majority of lawmakers voted against the bill, which needed a two-thirds majority to pass.
The looming government shutdown comes after Congress failed to reach an agreement on a new spending package. Negotiations have been ongoing between Republicans and Democrats but have been unable to reach a consensus, leading to the call for the House vote.
The failure to pass the bill means that 800,000 federal employees are at risk of being furloughed, and a range of government services will be suspended. This includes federal museums, national parks, and other services.
The White House has said that President Donald Trump will not sign the bill if it is passed without funding for his proposed wall along the US-Mexico border. This has created a deadlock in Congress, with Democrats opposed to the wall funding and unwilling to negotiate.
As Congress refuses to budge, millions of Americans are facing the possibility of a government shutdown this weekend. It is unclear how long it will last, with Congress unlikely to reach an agreement before Monday. If the government does shut down, it could cause significant disruption to services nationwide.
Vote Failed – Shutdown is near
The US government is facing another shutdown this weekend after a House vote on Friday night failed to move Congress any closer towards striking a new spending deal.
As the deadline for a new spending bill approaches, the House failed to pass an amendment to the emergency spending bill, leaving Congress without a plan to fund the government beyond this Friday. Without a new bill, the government will shut down at midnight on Friday.
This would be the third time the US government has gone into a partial shutdown this year. The first two shutdowns were the result of partisan disagreements over government spending levels and immigration policy.
The current standoff is primarily driven by Republican demands for more defense spending, while Democrats are advocating for increases in domestic spending and immigration reforms. The White House has not made any progress in bridging the divide and broke off negotiations with Democrats.
It is unclear if Congress can pass legislation to keep the government open beyond the Friday deadline before the start of the weekend, but the odds of a third government shutdown seem to be increasing. This would be the longest government shutdown in US history.
The effects of another shutdown could be devastating, particularly for federal workers. Without new funds, hundreds of thousands of federal employees would be furloughed without pay.
As the clock continues to tick down to the deadline, Congress has yet to reach a decision on a spending deal and a third government shutdown appears more and more likely.
The information provided in this article is for informational purposes only and should not be considered as investment advice. The stock market can be volatile, and investing in stocks carries risks. Always do your own research and consider consulting with a financial advisor before making any investment decisions.