The United States House of Representatives passed a crucial bill on Tuesday, aimed at preventing a government shutdown. The bill, known as a “laddered” continuing resolution (CR), will provide funding for various government departments and programs until January 19 and others until February 2. The Senate is expected to pass the bill before sending it to President Joe Biden, who has indicated his willingness to sign it into law.
Failure to pass a funding bill by both chambers and signed by the president would result in a government shutdown at 11:59 p.m. ET on Friday. The CR received broad bipartisan support in the House, with 336 in favor and 95 opposed. Notably, 127 Republicans joined 209 Democrats in passing the bill, though 93 Republicans voted against it, leaving only 2 Democratic “nays.”
The bipartisan support is an early indication from newly elected House Speaker Mike Johnson, R-La., that he is willing to work across party lines. However, this move could pose challenges within his own caucus, given the large number of conservative Republicans who voted against the bill. Johnson’s plan is to fund certain federal programs through January 19, while other programs will receive funding until February 2.
Despite initial reservations, Democrats publicly expressed support for the bill to avoid a shutdown. House Minority Leader Hakeem Jeffries, D-N.Y, stated that the bill must be set at the fiscal year 2023 spending level and be free of extreme right-wing policy riders.
Senate Majority Leader Chuck Schumer, D-N.Y., committed to moving the bill swiftly through the Senate, indicating that both parties were eager to avoid a potential government shutdown.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
