2023-11-14 23:49:48
The U.S. House of Representatives passed a short-term spending bill on Tuesday (14th) to avoid a federal government shutdown. The bill is now sent to the Senate, and leaders of both parties in the Senate have expressed support.
The newly elected House Speaker Mike Johnson successfully overcame the opposition of some Republican colleagues and won the first important victory of his term with a vote of 336 to 95.
To prevent a government shutdown, the House and Senate must pass the bill before the current funding deadline expires at midnight on Friday (17th) and President Joe Biden signs the legislation.
This short-term bill will extend the appropriation period of some funds to 2024, giving members of Congress more time to formulate detailed spending bills involving the military, scientific research and other fields. Some on the right wing of the Republican Party said they were frustrated that the bill did not include deep spending cuts and border security measures.
According to the bill, the funding period for projects including military construction, veterans’ benefits, transportation, housing, urban development, agriculture, the Food and Drug Administration, energy, and water resources will be extended to January 19 next year, which will provide support to the Department of Defense in The funding period for other institutions, including China, has been extended to early February.
This is the third time this year that the U.S. government and opposition parties have reached a deadlock over appropriation issues. This spring, the U.S. entered a months-long deadlock because its total debt exceeded the $31 trillion limit, bringing the federal government to the brink of default.
Credit rating agency Moody’s lowered its outlook on the U.S. credit rating from “stable” to “negative” last Friday (10th). In addition to the sharp rise in interest costs on U.S. debt, political polarization in Congress is also an important factor.
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