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US congressional leaders agree on stopgap funding bill -source

Published 01/13/2024, 06:21 PM
Updated 01/13/2024, 07:05 PM
© Reuters. FILE PHOTO: The U.S. Capitol Dome is illuminated in Washington, U.S., June 1, 2023. REUTERS/Evelyn Hockstein/File Photo

WASHINGTON (Reuters) -U.S. congressional leaders have agreed on a two-tranche stopgap spending bill to keep the federal government funded into March and avert a partial government shutdown starting late next week, a source familiar with the measure told Reuters on Saturday.

Politico, CNN and Punchbowl first reported that congressional leaders had agreed on what is called a "continuing resolution" or "CR," that would fund the government - extending two deadlines through March 1 and March 8.

A spokesperson for the Senate's Democratic majority leader, Chuck Schumer, said a text of the spending deal is expected to be posted online on Sunday. A second source, speaking on condition of anonymity, told Reuters the earlier reports were accurate.

Funding expires on Jan. 19 for some federal agencies, including the Department of Transportation, while others like the Defense Department face a Feb. 2 deadline.

The top Democrat and Republican in Congress reached a $1.59 trillion deal on Jan. 7 to fund the government through the current fiscal year, but if they fail to pass it by Jan. 19, parts of the federal government would begin to shut down.

Some lawmakers have said a short-term funding bill was needed to allow bipartisan negotiators from the House and Senate time to agree on full-year fiscal 2024 spending bills and for Congress to enact the legislation.

© Reuters. FILE PHOTO: The U.S. Capitol Dome is illuminated in Washington, U.S., June 1, 2023. REUTERS/Evelyn Hockstein/File Photo

On Thursday, Schumer took the first procedural step to pass a stopgap funding bill through the Senate early next week to give lawmakers more time to pass the full-year bill.

The U.S. came close to a partial government shutdown last autumn amid opposition by the hardline House Republicans who ousted former Speaker Kevin McCarthy over reaching a bipartisan stopgap spending deal with Schumer.

Latest comments

What they really need is a Stop Spending bill.  Reducing government spending would reduce demand in the same way higher interest rates do, except without the hit to peoples mortgages and other credit.
the Fed was aware that this inflation cycle was created by a massive unnecessary tax giveaway to corporations and the wealthy and necessary spending programs to keep the economy from colapsing during the pandemic. with an additional 1trillion lost a year in tax income. the Fed has done a good job of bringing the inflation rate under control. for Rodger's Idea to work there would have to be a program of austerity, a severe tax increase as well as reduced spending, hurting the American middle class and slowing down the economy, and sending markets into a tail spin.
this mess with the debt and inflation was created by the Trump Administration's tax policies, and the pandemic.
Roger thinks corporations and the wealthy shouldn't have pay taxes, so does trump. the. Trump's tax breaks for the rich and the corporations are costing the American people 1 trillion a year. since 2018.
been here done this
Well, the Rep's said ok to this if the Dem's gave up that, and the Dem's said ok to this other if the Rep's gave up on that in the other.  Other than that, there was nothing to report on this.
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