Free Trial

US: Funding Likely To Be Split Into Multiple Bills, Govt Shutdown Risk Decreases

US

Jake Sherman at Punchbowl News reporting that House Speaker Mike Johnson (R-LA) is likely to split the government funding package that failed twice this week into a series of standalone votes, allowing each item "to pass or fail on its own merit." The report appears to support reporting highlighted by MNI a short time ago suggesting that House Democrats indicated a route to avoiding a govt shutdown at midnight tonight. See: US: Jeffries Indicates There May Be Path Forward For Govt Funding Bill

  • Separate votes are likely to come on a Continuing Resolution to extend government funding, a bill to raise the federal debt limit, disaster relief for storm-hit states, and a farm bill with direct financial assistance for farmers.
  • There is little political will on either side of the aisle to see a government shutdown take place over Christmas, so it is likely a Continuing Resolution will pass. The farm bill and disaster relief are also likely to pass. It is more difficult to see sufficient support from House conservatives or Democrats for a bill to suspend the debt ceiling.
  • However, as there is yet to be an official word from House Republican leadership, reports should be approached with caution. 
200 words

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.

Jake Sherman at Punchbowl News reporting that House Speaker Mike Johnson (R-LA) is likely to split the government funding package that failed twice this week into a series of standalone votes, allowing each item "to pass or fail on its own merit." The report appears to support reporting highlighted by MNI a short time ago suggesting that House Democrats indicated a route to avoiding a govt shutdown at midnight tonight. See: US: Jeffries Indicates There May Be Path Forward For Govt Funding Bill

  • Separate votes are likely to come on a Continuing Resolution to extend government funding, a bill to raise the federal debt limit, disaster relief for storm-hit states, and a farm bill with direct financial assistance for farmers.
  • There is little political will on either side of the aisle to see a government shutdown take place over Christmas, so it is likely a Continuing Resolution will pass. The farm bill and disaster relief are also likely to pass. It is more difficult to see sufficient support from House conservatives or Democrats for a bill to suspend the debt ceiling.
  • However, as there is yet to be an official word from House Republican leadership, reports should be approached with caution.