Free Trial

Freedom Caucus Talks Up 'Alternate' Spending Plan

US

Punchbowl News' Jake Sherman has reported that a group of Conservatives House Republicans from the House Freedom Caucus have concluded a meeting with House Speaker Mike Johnson (R-LA), stating that the group has discussed an "alternate" spending plan with the Speaker.

  • Sherman writes: "Warning for Washington: [House Freedom Caucus] members leaving the speakers office say they are talking about an “alternate” spending plan with Johnson."
  • According to Sherman, Rep Ralph Norman (R-TX) said Johnson is going to "back out of his deal with Senate Majority Leader Chuck Schumer (D-NY)."
  • Norman said: “No. It’s not going to be the current deal,” but conceded there would be a Continuing Resolution to avert a government shutdown on January 20, as our Political Risk team noted earlier.
  • John Bresnahan at Punchbowl adds: "If this is true - big if - it would probably lead to shutdown & would mark the 2nd time a GOP speaker made a deal with Democrats & then reneged."
  • Johnson is now is a exceptionally tight position. The prevailing wisdom on Capitol Hill was that House conservatives would consider the political fallout from another rebellion too high during an election year but the risk has increased this week as Conservatives oppose the Johnson-Schumer topline spending deal.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.