Funding Vote to Avoid Government Shutdown

The U.S. Senate is scheduled to vote Thursday on a funding bill aimed at avoiding a partial government shutdown starting Saturday morning. The bill proposes to fund various departments, such as Agriculture, Transportation, and Energy, through March 1, while the remaining government functions, including the Pentagon, would be funded through March 8. Without sufficient stopgap spending, agency funding would cease on respective dates: Friday and Feb. 2.

This funding measure aims to buy lawmakers the time needed to pass spending bills totaling $1.66 trillion, ensuring government funding until the fall. Senate Majority Leader Charles Schumer expressed his determination stating, "The Senate will act to pass a bill that will fund the government and avoid an unnecessary shutdown." He further added that this continuing resolution would grant Congress the opportunity to continue its work on appropriations. The goal is to secure funding for the government throughout the fiscal year.

For the bill to become law, it would also need to be passed by the House of Representatives. However, Speaker Mike Johnson may require assistance from Democrats due to anticipated opposition from some Republicans.

Importance of Government Shutdowns—Insights From September 2023

(Beginning of archived content removed) What stock investors need to know about U.S. government shutdowns