U.S. House Republicans Consider Stopgap Spending Bill to Avoid Government Shutdown

U.S. House Republicans Consider Stopgap Spending Bill to Avoid Government Shutdown

U.S. House Republicans consider enacting a 14- to 60-day stopgap spending bill to avoid a government shutdown

Financial Industry2023-09-25 21:10:27

Garret Graves, a US Republican congressman and ally of House Speaker McCarthy, said that the Republican Party is studying the formulation of expedient government spending measures lasting 14 days to 60 days.

House Republicans will advance four funding bills next week, but with just seven days until government funds run out, lawmakers will need to pass a short-term measure to avoid a government shutdown.

Mainstream Republican lawmakers previously proposed a 31-day expedient spending plan that included domestic spending cuts and a more conservative border bill, but it was opposed by far-right parties such as Matt Gaetz.

Now House Republicans are racing against time to draft a new continuing resolution to gain enough support.

Lawmakers said revised stopgap spending measures are still under discussion, including a temporary 27% reduction in domestic spending, compared with the original 8% cut, a House immigration and border security bill, and the establishment of a debt committee to study welfare spending cuts. .

“As we get closer to the end of the fiscal year, the opportunity or leverage to ask the White House and President Biden to concede on these issues is waning,” Rep. Graves, R-Louisiana, said on Saturday. “I think this is a very big mistake.”

Even if McCarthy could persuade diehards to pass it, such a proposal would die in the Senate. House Republicans see the stopgap spending bill as the beginning of negotiations to push for spending cuts in the Senate.

Graves felt helpless toward Gaetz and others who disagreed. In previous meetings of the House of Representatives, they blocked the government funding package and stated that they would continue to oppose any continuing resolution. With Republicans holding a slim majority in the House, any opposition from a small group of dissidents could undermine McCarthy’s chances of passing a stopgap measure.

The House is scheduled to return on Tuesday for days of debate on year-round funding bills for the State, Agriculture, Homeland Security and Defense Departments, leaving very little time for stopgap spending bills that need to be passed by Saturday night.

The U.S. Senate is working on its own bipartisan stopgap spending bill that could be unveiled as early as Tuesday.

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2023-09-25 13:10:27

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