• About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
Fund Fluxes
Advertisement
  • Business
  • investing
  • Politics
  • Stocks
No Result
View All Result
  • Business
  • investing
  • Politics
  • Stocks
No Result
View All Result
Fund Fluxes
No Result
View All Result
Home Politics

House vote imminent on Trump-backed bill to avoid government shutdown

December 20, 2024
in Politics
0
House vote imminent on Trump-backed bill to avoid government shutdown
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

The House of Representatives is set to imminently vote on a bill backed by President-elect Trump to avert a government shutdown.

It comes after two days of chaos in Congress as lawmakers fought amongst themselves about a path forward on government spending – a fight joined by Trump and his allies Elon Musk and Vivek Ramaswamy.

Meanwhile, the national debt has climbed to over $36 trillion, and the national deficit is over $1.8 trillion.

The legislation was hastily negotiated on Thursday after GOP hardliners led by Musk and Ramaswamy rebelled against an initial bipartisan deal that would have extended the government funding deadline until March 14 and included a host of unrelated policy riders.

The new deal also includes several key policies unrelated to keeping the government open, but the 116-page bill is much narrower than its 1,547-page predecessor.

Like the initial bill, the new iteration extended the government funding deadline through March 14 while also suspending the debt limit – something Trump had pushed for.

It proposed to suspend the debt limit for two years until January 2027, still keeping it in Trump’s term but delaying that fight until after the 2026 Congressional midterm elections.

The new proposal also included roughly $110 billion in disaster relief aid for Americans affected by storms Milton and Helene, as well as a measure to cover the cost of rebuilding Baltimore’s Francis Scott Key Bridge, which was hit by a barge earlier this year.

Excluded from the second-round measure is the first pay raise for congressional lawmakers since 2009 and a measure aimed at revitalizing Washington, D.C.’s RFK stadium.

The text of the new bill was also significantly shorter – going from 1,547 pages to just 116.

‘All Republicans, and even the Democrats, should do what is best for our Country, and vote ‘YES’ for this Bill, TONIGHT!’ Trump wrote on Truth Social.

But the bill hit opposition before the legislative text was even released.

Democrats, furious at Johnson for reneging on their original bipartisan deal, chanted ‘Hell no’ in their closed-door conference meeting on Thursday night to debate the bill.

Nearly all House Democrats who left the meeting indicated they were voting against it.

Meanwhile, members of the ultra-conservative House Freedom Caucus also said they would vote against the bill.

‘Old bill: $110BB in deficit spending (unpaid for), $0 increase in the national credit card. New bill: $110BB in deficit spending (unpaid for), $4 TRILLION+ debt ceiling increase with $0 in structural reforms for cuts. Time to read the bill: 1.5 hours. I will vote no,’ Rep. Chip Roy, R-Texas, wrote on X.

This post appeared first on FOX NEWS

Previous Post

House Republicans agree on Plan B government funding bill with Trump’s debt limit increase

Next Post

Rand Paul suggests replacing Mike Johnson with Elon Musk as Speaker of the House

Next Post
Rand Paul suggests replacing Mike Johnson with Elon Musk as Speaker of the House

Rand Paul suggests replacing Mike Johnson with Elon Musk as Speaker of the House

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    S&P 500 Slide Explained: What Past Price Action Reveals About Market Dips

    S&P 500 Slide Explained: What Past Price Action Reveals About Market Dips

    May 24, 2025
    Applying Key Ratios to the Broader Market Surge: Are We at the Threshold of a New Trend?

    Applying Key Ratios to the Broader Market Surge: Are We at the Threshold of a New Trend?

    May 24, 2025
    Moving from Thrust Signals to a Bull Market

    Moving from Thrust Signals to a Bull Market

    May 24, 2025
    What Happens When the S&P 500 Breaks Below Gap Support?

    What Happens When the S&P 500 Breaks Below Gap Support?

    May 24, 2025

    Disclaimer: fundfluxes.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.



    Copyright © 2024 fundfluxes.com | All Rights Reserved

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Recent News

    S&P 500 Slide Explained: What Past Price Action Reveals About Market Dips

    S&P 500 Slide Explained: What Past Price Action Reveals About Market Dips

    May 24, 2025
    Applying Key Ratios to the Broader Market Surge: Are We at the Threshold of a New Trend?

    Applying Key Ratios to the Broader Market Surge: Are We at the Threshold of a New Trend?

    May 24, 2025
    Moving from Thrust Signals to a Bull Market

    Moving from Thrust Signals to a Bull Market

    May 24, 2025
    No Result
    View All Result
    • Business
    • investing
    • Politics
    • Stocks

    Copyright © 2024 pinnacleofinvestment.com | All Rights Reserved