• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

House passes funding bill with just hours until government shutdown

by December 21, 2024
written by December 21, 2024

The House has passed a bill to avert a partial government shutdown on Friday, hours before the midnight federal funding deadline. 

The bill, which needed approval from two-thirds of the chamber, passed overwhelmingly in a 366 to 34 vote. 

All Democrats voted for the bill save for Rep. Jasmine Crockett, D-Texas, who voted ‘present.’

Lawmakers were scrambling for a path forward after an initial bill was tanked by President-elect Trump and his allies on Wednesday, and a later bill approved by Trump failed on the House floor Thursday.

But Trump has stayed noticeably silent on this latest measure – which many House Republicans saw as a tacit sign of approval.

Speaker Mike Johnson, R-La., was optimistic after days of uncertainty, telling reporters there would be a House-wide vote Friday when leaving a closed-door House GOP meeting where leaders presented their plan.

‘We will not have a government shutdown, and we will meet our obligations for our farmers who need aid, for the disaster victims all over the country and for making sure that military and essential services and everyone who relies upon the federal government for a paycheck is paid over the holidays,’ Johnson said. 

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

The legislation, if passed in the Senate, would extend current government funding levels through mid-March, a measure known as a continuing resolution (CR), paired with just over $100 billion in disaster relief aid for victims of storms Helene and Milton, as well as assistance for the agriculture industry.

Johnson bypassed regular House procedures to get the legislation straight to a chamber-wide vote, a maneuver known as ‘suspension of the rules.’

In exchange for the fast track, however, the threshold for passage was raised from a simple majority to two-thirds of the House chamber, meaning Democratic support is critical.

Rep. Thomas Massie, R-Ky., told reporters he believed Johnson struck an agreement with House Minority Leader Hakeem Jeffries, D-N.Y. A longtime Johnson critic, Massie said he would not vote for the bill.

‘Trump wanted a debt limit increase, and now we’re bringing the exact same bill to the floor without the debt limit increase,’ Massie said.

Another Republican lawmaker argued Johnson would not move forward without Trump’s blessing.

‘We wouldn’t do it if they weren’t,’ Rep. Dan Meuser, R-Pa., said when asked if Trump and Elon Musk were supportive of the deal.

Trump and Musk led the conservative rebellion against the initial plan to avert a partial shutdown, a bipartisan deal that came from negotiations between the top two Democrats and Republicans in both Congressional chambers.

That bill, 1,547 pages, would have extended current government funding levels until March 14. However, GOP hardliners were angered by what they saw as unrelated measures attached to the bill, like a pay raise for congressional lawmakers, health care policy provisions and legislation aimed at revitalizing RFK Stadium in Washington, D.C.

It was scrapped as Trump and Musk threatened to force out of office any lawmaker who did not support pairing a CR with action on the debt limit.

The debt limit is suspended until January 2025 through a prior bipartisan deal, but Trump had pushed for Republicans to act on it now to avoid a messy, protracted fight early in his term.

The second iteration of the funding deal was much slimmer, coming in at 116 pages. It excluded the stadium bill and the congressional pay raise, but still included measures to fund the rebuilding of Baltimore’s Francis Scott Key Bridge and disaster aid funding. It also suspended the debt limit through January 2027.

A House vote on the second plan went down in flames, however, after 38 Republicans opposed to raising or suspending the debt limit voted with all but two Democrats to defeat the bill.

Johnson huddled with those holdouts Friday morning, along with Trump’s nominee to lead the Office of Management and Budget, Russell Vought, and Vice President-elect JD Vance. 

The bill that passed the House on Friday does not act on the debt limit, but Johnson pledged in that closed-door meeting to raise the debt limit early next year as part of Republicans’ plans for a massive policy and spending overhaul.

During their closed-door meeting Friday, House GOP leaders unveiled their CR plan as well as a plan to raise the debt limit by $1.5 trillion, followed by $2.5 trillion in net spending cuts, multiple people told Fox News Digital.

Democrats who left their own closed-door meeting shortly before the vote largely said they would support the bill – which they did.

President Biden has said he would sign it into law if it reaches his desk after a Senate vote.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Biden missing in action as Turkey inches closer to full-blown war against US-allied Kurds in Syria
next post
Party City to close all of its stores, report says

related articles

Bernie Sanders says Israeli PM ‘wrong’ both in...

June 20, 2025

UN nuclear chief says Iran has material to...

June 20, 2025

The new map that could be guiding Trump’s...

June 20, 2025

‘No basis in reality’: Expert turns tables on...

June 20, 2025

Trump’s unpredictable Middle East moves actually follow a...

June 20, 2025

Iran talks with Europeans set for Friday; White...

June 20, 2025

Kurilla warfare: Meet the general leading US military...

June 19, 2025

US Ambassador to Israel Mike Huckabee indicates US...

June 19, 2025

US troops in the Middle East could face...

June 19, 2025

Mystery flights from China to Iran raise questions...

June 19, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump now speaking with Russia’s Putin about ending Ukraine war

    March 18, 2025
  • Trump, Harris trade barbs on crime during first presidential debate: ‘Through the roof’

    September 11, 2024
  • Trump eyes Abraham Accords expansion, Gaza rebuild with Netanyahu meeting on deck

    February 4, 2025
  • Musk to seek Tesla board approval for $5 billion investment in AI start-up xAI

    July 25, 2024
  • ‘A lot of waste’: Blackburn and Ramaswamy talk DOGE cuts

    November 25, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,010)
  • Investing (634)
  • Stock (809)

Latest Posts

  • What is the Electoral College? How does it work?

    November 3, 2024
  • Trump FBI director nominee Kash Patel picks up support from key GOP senator

    February 19, 2025
  • Lindsey Graham to push ‘bone-breaking sanctions and tariffs’ to pressure Russia into peace with Ukraine

    March 12, 2025

Recent Posts

  • Morning Glory: Trump won—what a relief

    November 7, 2024
  • Here’s why dozens of lawsuits seeking to quash Trump’s early actions as president are failing

    February 27, 2025
  • Harris billionaire surrogate’s suggestion Trump women are dumb comes on heels of Biden’s ‘garbage’ comment

    November 1, 2024

Editor’s Pick

  • NASA backs Trump budget blueprint with $6B cut to agency

    May 6, 2025
  • Amazon workers must return to office full time, CEO says

    September 17, 2024
  • Battleground state voters blame Dems’ ‘toxic’ rhetoric for attempts on Trump’s life

    September 18, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock