Home Life Insurance Biden Indicators Invoice Averting Shutdown, Teeing Up 2024 Price range Battle

Biden Indicators Invoice Averting Shutdown, Teeing Up 2024 Price range Battle

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Biden Indicators Invoice Averting Shutdown, Teeing Up 2024 Price range Battle

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President Joe Biden signed a stopgap invoice to increase authorities funding into early 2024, averting a authorities shutdown for now however kicking a politically-divisive debate over federal spending right into a presidential election 12 months.

The White Home confirmed the transfer in an announcement early Friday morning in Washington, lower than a day earlier than current funding would have expired. Biden — in California for a summit of APEC leaders — signed the laws on Thursday, in response to the assertion.

Going through that Friday evening deadline and with the Home below new management, Congress handed an interim measure with broad bipartisan majorities earlier this week.

A shutdown threatened to generate widespread political fallout in Washington. The short-term bundle permits lawmakers to regroup over the Thanksgiving vacation whereas talks proceed on spending and coverage agreements.

However the measure units up bitter ideological fights early subsequent 12 months over federal spending and emergency funding for allies Israel and Ukraine. That battle already introduced the U.S. to the brink of a debt default within the spring, induced Fitch Scores to downgrade the nation’s sovereign credit standing and price Kevin McCarthy the Home speakership.

Senate Majority Chief Chuck Schumer mentioned the chamber would flip to Israel and Ukraine help “instantly” when lawmakers return from Thanksgiving.

The White Home initially criticized the stopgap measure, with Press Secretary Karine Jean-Pierre calling it “a recipe for extra Republican chaos and extra shutdowns.” However Biden got here round as Democrats indicated they’d not block the proposal with a purpose to keep away from an instantaneous funding lapse.

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