By Patrick Reilly, Jon Levine and Rich Calder. Congress passed a last-minute, short-term funding bill and President Joe Biden signed it just before midnight, according to reports.
The Senate approved the stopgap funding measure, known as a continuing resolution, or CR, by a final vote of 88-9, hours after the House passed it 335-91, with votes from both sides of the isle.
Biden finally signed it with just minutes to go before many government operations would have shut down. . .
The deal will increase federal disaster assistance by $16 billion and keep the government open until at least November 17 — however it notably did not include new funding to Ukraine that was proposed under an earlier plan, which became a point of contention among Senate Democrats. . .
Republican holdouts argued that a CR is essentially an extension of the previous Democratically-held Congress’ priorities, and slap to the House GOP majority’s vow to pass 12 individual spending bills laying out conservative priorities in the next fiscal year. (Read more about the last minute deal HERE).
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Last Week’s Prediction: Shutdown Will Happen
By Townhall. At this point, we should expect the government to shut down on October 1. Congress has until September 30 to pass a spending measure to keep the lights on in the Capitol Building, but Speaker Kevin McCarthy said he won’t bring up the House’s plan to present a shutdown until tomorrow. The Senate has a plan to pass a continuing resolution, though it’s unlikely McCarthy will bring that to the floor for a vote.
He also can’t procure Democratic votes unless he wants to risk a leadership scuffle. Also, there’s no incentive for Democrats to help Republicans right now. Goldman Sachs predicts the chances of a shutdown at 90 percent. It might as well be 100 at this point, to be honest (via NY Post):
Wall Street is bracing for the likelihood of lengthy government shutdown — with one prominent analyst placing the odds at 90% that Republicans and Democrats won’t reach a deal before Saturday’s deadline.
Goldman Sachs’ chief economist Jan Hatzius said in a Wednesday note obtained by The Post: “A government shutdown this year has looked likely for several months, and we now think the odds have risen to 90%.”
Hatzius, who heads the bank’s global investment research, predicted the shutdown would likely last two to three weeks
(Read more from “Major Financial Institution Gives Its Prediction on the Looming Government Shutdown” HERE)
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