MNI POLITICAL RISK- House Conservatives Protest FY24 Agreement

Executive Summary:

• Twelve conservative House Republicans yesterday torpedoed a procedural vote in protest of House Speaker Mike Johnson’s (R-LA) FY2024 topline spending deal with Senate Majority Leader Chuck Schumer (D-NY).
• The move demonstrates that, despite the installation of Speaker Johnson - a staunch conservative -, 2024 will be riven by the same Republican fractures which led to the ouster of former House Speaker Kevin McCarthy.
• Schumer is expected to tee up a placeholder today for a Continuing Resolution to avoid a partial government shutdown on January 20. The process usually takes around a week.
• Senate negotiations on an overhaul of US-Mexico border policy appear to be making progress but divisions between Senate and House Republicans could scupper a final deal.
• The White House continues to threaten consequences if Houthi attacks in the Red Sea continue.
• Florida Governor Ron DeSantis (R-FL) and former South Carolina Governor Nikki Haley squared-off yesterday in the last Republican presidential debate before the Iowa caucuses. Former New Jersey Governor Chris Christie suspended his campaign yesterday leaving Haley's narrow window to the nomination ajar.
• Trump will make his second court appearance this week – attending closing arguments for his civil business fraud trial in New York City.
• US Commerce Secretary Gina Raimondo and her Chinese counterpart held an, "in-depth and pragmatic communication," today.
• A major bipartisan deal on child tax credits and business tax benefits is facing, "new roadblocks."
• Poll of the Day: Nikki Haley has gained ten points on former President Trump since November in New Hampshire.

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MNIPOLRISKUSDaily110124.pdf