Lawmakers Race To Avert Government Shutdown This Weekend—Expect Higher Inflation And Millions Of Furloughs If They Don’t

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Top Line

House lawmakers on Thursday unveiled a last-minute stopgap funding measure to halt Friday’s shutdown and keep the government funded through February, but it’s still unclear, facing opposition from conservative Republicans. Whether the measure to avoid the government shutdown will pass the Senate in time. this weekend.

important facts

House proceeded on Thursday afternoon continuous resolution Speaker Nancy Pelosi (D-Calif.) said at a news conference that it would let the government run until February 18, setting it up for a vote in the chamber before the end of the day.

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In floor remarks on Thursday, Senate Majority Leader Chuck Schumer (DN.Y.) called the proposal a “good compromise” but said “Republican dysfunction” could still lead to an “unnecessary and dangerous” government shutdown, according to conservatives. Threatening to block a group. Bill if Democrats don’t push to disregard President Joe Biden’s recent vaccination mandate.

Senate Minority Leader Mitch McConnell (R-Ky.) told Fox News of the effort, “It doesn’t make sense to anyone, once again at least the government won’t shut down, despite that. ” two GOP senators, Mike Lee (R-Utah) and Roger Marshall (R-Kan.), are threatening to withdraw their votes and advance the procedural process before the Friday night deadline.

In a Thursday note, S&P Global’s chief economist Beth Ann Bovino said a government shutdown “would not be a disaster” if it was brief, but would still reduce some of the economic gains that the U.S. has made in the face of lost productivity from direct costs. The reason has seen since reopening. deduction, i.e. lakhs of government employees are expected to go on leave.

While it’s unclear how long the shutdown will last, Bovino estimates the government will lose about $1.8 billion in economic activity shut down each week, while adding to already high inflation as a result of increased complexities in supply chains. promote, which were hindered For the weeks following the last shutdown in 2019.

important quotes

McConnell told Fox News, “I don’t think there’s going to be any repercussions from shutting down the government on this issue,” adding lawmakers should rather wait for the courts to overturn the mandate, or do so as a standalone law. should pass. “It will only create chaos and uncertainty,” he said.

chief critic

“Most Republicans, including Democrats and the Republican leader, have said they don’t want to see closure, and we expect cooler heads to prevail,” Schumer said on the Senate floor Thursday. “But some individual Republican senators are determined to derail this important legislation because of their opposition to the president’s life-saving vaccine guidelines … If there is a shutdown, it will be a Republican, anti-vaccine shutdown.”

main background

Congress failed to approve a spending measure by the end of the fiscal year, and a stopgap measure passed in late September expired at midnight on Friday. Unless another is passed, non-essential federal services will effectively stop, while those deemed essential – such as public safety measures such as emergency police and fire services – continue to operate. According to the Bipartisan Policy Center, with no funds appropriated, three out of five of the approximately 2.1 million federal civilian employees will be forced to stop working, although all federal employees will still be able to take their jobs after a spending agreement is reached. Salary will be received. Americans will still receive ongoing benefits such as Veterans Affairs, Social Security and Supplemental Security income checks, but agency staff will not be available to process new applications or claims.

what to see

The stopgap funding measure will go to the Senate after expected passage in the House, but amid conservative opposition, McConnell has yet to agree to a vote for it in the Senate.

tangent line

In recent months, the Biden administration has roll over A range of COVID-19 vaccine mandates covering millions of American workers, including healthcare, federal employees and contractors. the White House They say The orders would increase vaccination rates and protect workers, but in addition to political backlash, the mandate has faced setbacks in the courts. Most recently, on Tuesday, a judge temporarily blocked a mandate for workers in Medicare-or-Medicaid-funded health facilities.

‘Total Chaos’: Conservatives threaten to shut down government in two days over Biden’s vaccine mandate (Businesshala)

Sen. Mike Lee plans to shut down government to block Biden’s vaccine mandate (Salt Lake Tribune)

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