Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

White House, government agencies discuss possible shutdown

Published 09/23/2016, 03:24 PM
Updated 09/23/2016, 03:30 PM
White House, government agencies discuss possible shutdown

By Roberta Rampton

WASHINGTON (Reuters) - The White House budget office scheduled a call with U.S government agencies on Friday to plan for a government shutdown in case the U.S. Congress fails to pass a short-term funding bill by a deadline next week.

"It is our hope that this work will ultimately be unnecessary and that there will be no lapse in appropriations," a spokeswoman for the White House Office of Management and Budget (OMB) said in a statement.

The federal fiscal year ends on Sept. 30 and Congress must pass a spending measure by then to keep the government open.

In recent years, lawmakers have seldom agreed on a full federal budget and instead have relied on stop-gap measures.

On Thursday, Republicans produced a bill which Democrats immediately rejected. The Senate is expected to hold an initial procedural vote on the legislation on Tuesday, according to a senior Republican aide.

The White House was pleased that bill includes funding to fight the Zika virus, but has concerns about other provisions, spokesman Josh Earnest said, noting that it was "too soon to panic" about the bill.

"I think it is unclear at best right now whether or not this particular piece of legislation will pass both houses of Congress and make its way to the president's desk. Even if it were, it's also unclear at best right now if the president would sign it," Earnest told reporters.

The OMB said there was enough time for Congress to pass a short-term funding bill, but "prudent management requires that the government plan for the possibility of a lapse."

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Republicans and Democrats annually fight about spending bills but normally reach a deal to avert a shutdown, particularly during election years. In 2013, the two sides failed to agree, and the government stopped operations for 16 days.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.