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Original Caption: US Government Expected To Avoid Shutdown This Week, But Bailout Plan Negotiations Still Slow
The United States House of Representatives on Wednesday, to avoid the shutdown of the United States government, to extend federal spending by a week, received enough votes to pass.
The House of Representatives passed the bill on record by 343 votes to 67, and it is expected to be approved by the Senate. US President Trump previously stated that he would sign the bill before December 11.
The bill will extend current federal spending through Dec. 18 and federal funds would have been exhausted on Friday. The reason for the need to pass this short-term spending bill is that none of the 12 annual appropriations bills involving the fiscal year as of October 1 have been enacted, and have yet to be negotiated. the comprehensive spending bill that combines these bills.
At the same time, lawmakers also hope to tie a rescue stimulus package of more than $ 900 billion to this comprehensive spending bill.
House Majority Leader Steny Hoyer said that to prevent the government from shutting down when the new corona virus is sweeping through, this compensation bill is a workaround plan to ensure that the government from the US can work normally. To reach a final agreement, the two parties will also have to compromise. Work together to achieve the goal.
Currently, U.S. lawmakers have yet to resolve the deadlock surrounding corporate immunity and protection and state and local government assistance in the corona’s new epidemic relief pledge plan, despite that House Speaker Pelosi and Treasury Secretary Mnuchin expressed optimism about reaching an agreement. .
Pelosi said Wednesday: “We will do it in a certain way.” Mnuchin told reporters: “I am cautious and hope we can win something.”
Still, the lack of a compromise between these two main hurdles raises the question of whether this bipartisan plan will provide a way forward in reaching an agreement that will lead to legislation in the next week.
Disputes between the leaders of the main parties continue. Senate Majority Leader Mitch McConnell accused Pelosi and Senate Minority Leader Schumer of deliberately obstructing the process, and Democrats responded.
McConnell said Democrats “dropped” the GOP epidemic aid proposal Tuesday and continued with the aid plan. McConnell said Democrats “poured cold water” on their proposal to sideline state aid and liability protection in this round of aid bills, and they rejected Treasury Secretary Mnuchin’s $ 916 billion proposal.
Senate Democratic leader Schumer said Democrats have repeatedly reduced the size of the proposal, in hopes of reaching a compromise on the stimulus package. He urged McConnell to support the aid package proposed by the multi-party group.
The US stock market and gold prices fell on Wednesday because the aid package still appears a long way off.
Art Hogan, chief market strategist at National Securities, said: “We’ve been in a big tug of war between vaccines and epidemic news. Vaccine news won earlier.” The possibility of Congress introducing stimulus measures before returning home for the holidays. “
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