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Home Market Research Business

End to record-long US government shutdown in sight

by TheAdviserMagazine
3 weeks ago
in Business
Reading Time: 2 mins read
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End to record-long US government shutdown in sight
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The longest government shutdown in American history appeared headed on Monday to an eventual resolution, after several Democratic senators broke ranks to join Republicans in advancing a compromise deal — and sparking intra-party backlash.

Since October 1, the first day of the shutdown, more than a million federal workers have been unpaid, while government benefits and services have been increasingly disrupted.

Severe impacts on air traffic have begun to mount in recent days, with hundreds of flights canceled daily, raising the political pressure to end the stalemate.After clearing a key procedural hurdle late Sunday, the Senate was expected to pass the compromise budget late Monday or even overnight.

The bill will then move to the Republican-controlled House of Representatives, which could vote on it as early as Wednesday to send it to President Donald Trump’s desk.

Live Events

“It looks like we’re getting very close to the shutdown ending,” Trump said on Sunday evening upon his return to Washington from a weekend stay at his Mar-a-Lago residence in Florida.ObamacareAt the heart of the budgetary impasse has been Democrats’ demand to extend health insurance subsidies that expire at the end of the year, while Republicans insist that any negotiation occur after the government is re-opened.Millions of Americans who have purchased health insurance through the “Obamacare” program would see their costs double if the subsidies are not extended.

Sunday’s breakthrough agreement would re-open the government through January, with some programs funded for the full fiscal year, and reverse some of the Trump administration’s firings of federal workers.

The bill notably would restore funding for the SNAP food aid program which helps more than 42 million lower-income Americans pay for groceries.

While Republican leadership has agreed to hold an eventual vote on healthcare, it does ensure the insurance subsidies will be extended.

“After 40 days of uncertainty, I’m profoundly glad to be able to announce that nutrition programs, our veterans, and other critical priorities will have their full-year funding,” Senate Majority Leader John Thune said Sunday night.

While leaders were rushing to move the bill through Congress, it could still take days to make its way to Trump’s desk for signature.

“This deal guarantees a vote to extend Affordable Care Act premium tax credits, which Republicans weren’t willing to do,” Senator Tim Kaine, one of the Democrats who broke ranks to back the measure, said in a statement.

The bill “will protect federal workers from baseless firings, reinstate those who have been wrongfully terminated during the shutdown, and ensure federal workers receive back pay” as required by law, he said.

But many Senate Democrats are opposed to the deal, including Senate Minority Leader Chuck Schumer, who expressed anger that it offers a vote for extending the health care subsidies instead of extending them directly.

“I can not in good faith support this CR that fails to address the health care crisis,” Schumer told the chamber, adding: “This fight will and must continue.”



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