MNI BRIEF: Japan Oct Core CPI Rises 2.3%, Services Rise

FED'S SCHMID - WE STILL HAVEN'T BEAT INFLATION BACK TO 2%

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI: UK NOV GFK CONSUMER CONFIDENCE INDEX -18

MNI JAPAN OCT CORE CPI +2.3% Y/Y; SEPT +2.4%

MNI: FED BALANCE SHEET TOTAL ASSETS -$43B TO $6.924T IN WEEK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Speaker Johnson Expected To Unveil Government Funding CR Next Week

US
USHomepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

House Speaker Mike Johnson (R-LA) and House GOP leadership are discussing a plan to move a Continuing Resolution next week that would extend government funding into March 2025 with the SAVE Act attached to it, according to Punchbowl News.

  • There is little political will for a government shutdown, which would commence on October 1, during an election year but the addition of the SAVE Act, adds a complication to the process. The legislation, which would prevent non-citizens from registering to vote, passed the House on July 10, primarily on party lines, and has been rejected by the Democrat-controlled Senate.
  • Punchbowl notes, “Johnson is running this play early – the week of Sept. 9 – to try to give himself time to make the case that he moved a CR and the onus should be on the Senate to accept it.”
  • The gambit is unlikely to work and Johnson may even receive some dissenting votes from vulnerable House Republicans who don’t want to see the risk of a government shutdown raised so close to Election Day.
  • Fox News reports: "Earlier this month, the ultraconservative House Freedom Caucus expressed its desire to see the measure included in the stopgap government spending package next month. Without the SAVE Act's inclusion in a continuing resolution (CR), appropriators risk losing the support of Freedom Caucus members and enduring a potential government shutdown."
225 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.

House Speaker Mike Johnson (R-LA) and House GOP leadership are discussing a plan to move a Continuing Resolution next week that would extend government funding into March 2025 with the SAVE Act attached to it, according to Punchbowl News.

  • There is little political will for a government shutdown, which would commence on October 1, during an election year but the addition of the SAVE Act, adds a complication to the process. The legislation, which would prevent non-citizens from registering to vote, passed the House on July 10, primarily on party lines, and has been rejected by the Democrat-controlled Senate.
  • Punchbowl notes, “Johnson is running this play early – the week of Sept. 9 – to try to give himself time to make the case that he moved a CR and the onus should be on the Senate to accept it.”
  • The gambit is unlikely to work and Johnson may even receive some dissenting votes from vulnerable House Republicans who don’t want to see the risk of a government shutdown raised so close to Election Day.
  • Fox News reports: "Earlier this month, the ultraconservative House Freedom Caucus expressed its desire to see the measure included in the stopgap government spending package next month. Without the SAVE Act's inclusion in a continuing resolution (CR), appropriators risk losing the support of Freedom Caucus members and enduring a potential government shutdown."