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POLITICAL RISK: Republicans Look To Punt Government Funding Into New Year

POLITICAL RISK
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Republican lawmakers are looking to pass a short-term Continuing Resolution to punt government funding negotiations for Fiscal Year 2025 beyond the December 20 deadline and into the new year, when the GOP is expected to control all three branches of government. 

  • The Washington Post reports: “Lawmakers are discussing a temporary measure that would fund the government into March… That would give the Senate plenty of time to begin confirming Trump’s Cabinet nominees, and the House time to plot out maneuvers on tax legislation, without the threat of an imminent government shutdown…”
  • Democrats are expected to accept the proposal, despite warning in September that extending FY24 funding into the new year would have damaging knock on effects to national security, military funding, and critical government programmes.
  • Senate Majority Leader Chuck Schumer (D-NY) said: “As I’ve said time and again, in both the majority and the minority, the only way to get things done in the Senate is through bipartisan legislation while maintaining our principles — and the next two years will be no different.”
  • If the Republican Party retains their majority in the House, as expected, it will be with another paper-thin majority, raising the risk of further confrontation with the conservative faction of the party that opposes short-term funding measures.
  • Internal House Republican leadership elections on Wednesday will indicate House Speaker Mike Johnson's (R-LA) support within the conference. A strong re-election bid is likely to derisk the possibility of a government shutdown in the short term. 
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Republican lawmakers are looking to pass a short-term Continuing Resolution to punt government funding negotiations for Fiscal Year 2025 beyond the December 20 deadline and into the new year, when the GOP is expected to control all three branches of government. 

  • The Washington Post reports: “Lawmakers are discussing a temporary measure that would fund the government into March… That would give the Senate plenty of time to begin confirming Trump’s Cabinet nominees, and the House time to plot out maneuvers on tax legislation, without the threat of an imminent government shutdown…”
  • Democrats are expected to accept the proposal, despite warning in September that extending FY24 funding into the new year would have damaging knock on effects to national security, military funding, and critical government programmes.
  • Senate Majority Leader Chuck Schumer (D-NY) said: “As I’ve said time and again, in both the majority and the minority, the only way to get things done in the Senate is through bipartisan legislation while maintaining our principles — and the next two years will be no different.”
  • If the Republican Party retains their majority in the House, as expected, it will be with another paper-thin majority, raising the risk of further confrontation with the conservative faction of the party that opposes short-term funding measures.
  • Internal House Republican leadership elections on Wednesday will indicate House Speaker Mike Johnson's (R-LA) support within the conference. A strong re-election bid is likely to derisk the possibility of a government shutdown in the short term.