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Free AccessSpeaker Johnson Faces Conservative Rebellion Over FY24 Deal
House Speaker Mike Johnson (R-LA) indicated to reporters yesterday that he has softened his formerly concrete opposition to another Continuing Resolution (CR) to avoid a government shutdown on Jan 20.
- Johnson’s pivot comes amid a potential conservative mutiny over a lack of cuts in the FY2024 topline spending deal Johnson negotiated with Senate Majority Leader Chuck Schumer (D-NY).
- Top GOP appropriator Senator Susan Collins (R-ME) warned that a CR will likely be required due to the time squeeze: “...time is ticking away very rapidly, and I am concerned that we have an awful lot of work to do prior to Jan. 19...”
- Conventional wisdom states that a government shutdown in an election year would be negative for the GOP but whether Johnson can successfully navigate a CR without prompting the same rebellion which led to the ouster of his predecessor Kevin McCarthy is unclear.
- A Republican lawmaker (notably not a Freedom Caucus member), told Punchbowl News: “As much as there was valid criticism and frustration with [McCarthy], [Johnson] is struggling to grow into the job and is just getting rolled even more than McCarthy did.”
- Note: Johnson would have to legislate a CR via suspension – the same mechanism McCarthy used to legislate his CR with a bipartisan majority.
- The House Rules Committee will meet today 16:00 ET 21:00 GMT. Comments following the meeting may indicate if conservatives will be open to a CR.
- More analysis in today's edition of the MNI 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.