MNI BRIEF: BOC Releasing Pandemic Actions Review Jan 17

BANK OF CANADA RELEASING PANDEMIC REVIEW REPORT ON JAN 17

MNI China Daily Summary: Monday, January 13

MNI BRIEF: China December Vehicle Sales Up 10.5%

MNI BRIEF: PBOC To Add Forex Reserves Allocation In HK - Pan

MNI BRIEF: China 2024 Oil Imports Down 1.9%

MNI BRIEF: China 2024 Exports Grow 5.9% Y/Y

CHINA DEC EXPORTS +10.7% Y/Y VS MEDIAN +7.4% Y/Y: CUSTOMS

CHINA 2024 EXPORTS +7.1% IN YUAN TERM: CUSTOMS

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US: House Speaker Johnson Eyeing Continuing Resolution Into March

US
USHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America

House Speaker Mike Johnson (R-LA) appears to be warming on a Continuing Resolution to punt Fiscal Year 2024 government funding deadline into mid-March, slightly longer than the late-Jan/early Feb extension floated earlier this month, according to Punchbowl News. 

  • The current extension expires on Decembers 20, one month before Trump takes office. Sandwiched in between is a floor vote for Speaker on January 3. Johnson is expected to win re-election but any short-term funding agreement will likely need Democrat support as a handful of hardline conservatives tend to vote against all CRs.
  • If lawmakers fail to pass a full FY25 package by the end of April 2025, the federal government will face across-the-board spending cuts to both defense and non-defense programs (“sequestration”) - a reality that may compel House Minority Leader Hakeem Jeffries (D-NY) to cut a deal with Johnson.
  • Punting the FY25 funding deadline in the middle of Trump's first 100 days will be the first major test of Trump's coalition in Congress. The current Congress has seen the conservative fringe of the House Republican Conference wield asymmetrical power in the chamber. However, with Trump returning to the White House, the moderate bloc of the conference could become the power brokers.
  • Agreement on a stopgap funding measure may also be complicated by negotiations over the annual National Defense Authorization Act (NDAA), with the Senate bill authorizing $918 billion in spending, versus the House's $884 billion.
233 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) appears to be warming on a Continuing Resolution to punt Fiscal Year 2024 government funding deadline into mid-March, slightly longer than the late-Jan/early Feb extension floated earlier this month, according to Punchbowl News. 

  • The current extension expires on Decembers 20, one month before Trump takes office. Sandwiched in between is a floor vote for Speaker on January 3. Johnson is expected to win re-election but any short-term funding agreement will likely need Democrat support as a handful of hardline conservatives tend to vote against all CRs.
  • If lawmakers fail to pass a full FY25 package by the end of April 2025, the federal government will face across-the-board spending cuts to both defense and non-defense programs (“sequestration”) - a reality that may compel House Minority Leader Hakeem Jeffries (D-NY) to cut a deal with Johnson.
  • Punting the FY25 funding deadline in the middle of Trump's first 100 days will be the first major test of Trump's coalition in Congress. The current Congress has seen the conservative fringe of the House Republican Conference wield asymmetrical power in the chamber. However, with Trump returning to the White House, the moderate bloc of the conference could become the power brokers.
  • Agreement on a stopgap funding measure may also be complicated by negotiations over the annual National Defense Authorization Act (NDAA), with the Senate bill authorizing $918 billion in spending, versus the House's $884 billion.