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Free AccessSchumer Initiates Senate Plan To Avoid Government Shutdown
Senate Majority Leader Chuck Schumer (D-NY) has confirmed to reporters that he has begun the procedural steps on a Continuing Resolution to temporarily extend government funding and avert a government shutdown on November 18.
- Schumer's comments, per Chad Pegram at Fox News: "In a little over a week, the federal government will shut down if Congress does not come together to pass a bipartisan extension of funding."
- Schumer: "Today, I'm taking the first procedural step to the Senate to move forward on a legislative vehicle we can use next week to pass a temporary extension..."
- Schumer: "Democrats will continue talking to Republicans about finding a path forward on avoiding a shutdown that both sides support..."
- Schumer: "I implore Speaker Johnson and our House Republican colleagues to learn from the fiasco of a month ago. Hard right proposals, hard right, slashing cuts, hard right, poison pills that have zero support from Democrats will only make a shutdown more likely... I hope they don't go down that path in the week to come."
- Meanwhile, the House is still struggling to alight on a funding strategy which can appease both conservative and moderate Republican reps and House Speaker Mike Johnson's (R-LA) plan to rush through FY24 bills has hit the skids. GOP leadership today abandoned a vote on the financial services approps bill due to a lack of votes - the second FY24 bill to fail this week.
- More analysis in today's US Daily Brief.
To read the full story
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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.