Congress on Thursday authorised a measure to avert a authorities shutdown, delaying key deadlines and shopping for themselves extra time to complete an even bigger funding settlement.
Dealing with an end-of-the-week deadline, the Home of Representatives handed a invoice to quickly fund one set of federal businesses by March 8 and one other set by March 22. It rapidly moved to the Senate, which handed it Thursday night, on a 77-13 vote. The invoice now goes to President Joe Biden to be signed into legislation forward of a Saturday deadline.
“After we move this invoice, we could have, thank God, averted a shutdown with all its dangerous results on the American individuals,” Senate Majority Chief Chuck Schumer, the New York Democrat, stated proper earlier than the vote.
With out motion, a handful of businesses, together with the Division of Agriculture, would partially shut early Saturday. The remaining businesses, together with the Pentagon, would partly shutter after March 8.
Within the meantime, Congress will purpose to move packages of laws to fund the federal government for the rest of the finances yr.
Buyers might not be damage by a short shutdown, as shares
SPX
have risen throughout earlier authorities closures. However farmers would lose entry to loans, preliminary public choices might be halted and U.S. troops and different federal workers would go with out pay.
Learn: How a authorities shutdown might have an effect on you and your cash
Republicans solely narrowly management the Home, and Speaker Mike Johnson was pressured to depend on Democrats to assist move the stopgap spending measure. It cleared the Home on a vote of 320-99.
The Related Press contributed to this report.
