House Speaker Mike Johnson has proposed a two-step stopgap spending measure to prevent a government shutdown.
If an agreement is not reached by Friday, a partial government shutdown could occur.
Moody's Investors Service lowered its outlook on the U.S. government's debt to 'negative' from 'stable.'
The measure aims to fund some parts of the government until Jan. 19 and others until Feb. 2.
The proposal has been met with opposition from both parties.
U.S. House Speaker Mike Johnson has proposed a two-step stopgap spending measure in an attempt to prevent a government shutdown. The measure, which has been met with opposition from both parties, aims to fund some parts of the government until Jan. 19 and others until Feb. 2. The proposal includes an extension of farm bill programs through Sept. 30, 2024, and the National Flood Insurance Program until Feb. 2. Other bills to be debated include the fiscal 2024 Labor-Health and Human Services bill and the Commerce-Justice-Science bill.
The plan has been criticized by Democrats and the White House, with some Republicans also expressing opposition. Some conservatives have indicated they would support the legislation, while others have criticized it. The opposition from within his own party left Mr. Johnson looking for votes from Democrats for his proposal. President Biden declined to weigh in on whether he would veto the plan if it reached his desk.
The credit rating agency Moody's Investors Service lowered its outlook on the U.S. government's debt to 'negative' from 'stable,' citing the cost of rising interest rates and political polarization in Congress. If an agreement is not reached by Friday, a partial government shutdown could occur, affecting national parks, federal workers, and various activities.
Some conservatives have indicated they would support the legislation, while others have criticized it.
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The bill excludes funding requested by President Joe Biden for Israel, Ukraine, and the U.S. border with Mexico. Johnson said separating Biden's request for an emergency supplemental bill from the temporary, stopgap measure 'places our conference in the best position to fight for fiscal responsibility, oversight over Ukraine aid, and meaningful policy changes at our Southern border.'
The plan could be headed toward bipartisan approval.
President Biden declined to weigh in on whether he would veto the plan if it reached his desk.
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"I will not support a status quo that fails to acknowledge fiscal irresponsibility, and changes absolutely nothing while emboldening a do-nothing Senate and a fiscally illiterate president," Representative Scott Perry, Republican of Pennsylvania and the leader of the hard-line Freedom Caucus, wrote on the social media site X.
"We simply cannot continue funding Joe Biden, Chuck Schumer, and Nancy Pelosi’s radical policies and bloated spending levels," Another member of the Freedom Caucus, Representative Andrew Clyde of Georgia, wrote.
The credit rating agency Moody's Investors Service lowered its outlook on the U.S. government's debt to 'negative' from 'stable,' citing the cost of rising interest rates and political polarization in Congress.
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House Republicans pointed to the national debt, now exceeding $33 trillion, for Moody’s decision.
The White House, meanwhile, panned the plan as “unserious,” unworkable and a threat to national security and domestic programs.
The bill also includes an extension of farm bill programs through Sept. 30, 2024, and the National Flood Insurance Program until Feb. 2.
Other bills to be debated include the fiscal 2024 Labor-Health and Human Services bill and the Commerce-Justice-Science bill.
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"This proposal is just a recipe for more Republican chaos and more shutdowns — full stop," said press secretary Karine Jean-Pierre.
"This two-step continuing resolution is a necessary bill to place House Republicans in the best position to fight for conservative victories," Johnson said.
If an agreement is not reached by Friday, a partial government shutdown could occur, affecting national parks, federal workers, and various activities.
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White House press secretary Karine Jean-Pierre said in a release that the proposal was "just a recipe for more Republican chaos and more shutdowns." She said "House Republicans are wasting precious time with an unserious proposal that has been panned by members of both parties."