Connect with us

Hi, what are you looking for?

Investing

Lawmakers react to stopgap funding and averting government shutdown

As the dust settles on Congress frantically passing a stopgap bill at the eleventh hour to avoid a government shutdown, lawmakers are having their say on a chaotic week on Capitol Hill.

President Biden signed the 118-page bill into law on Saturday, extending government funding into March, the White House announced. The bill provides over $100 billion in disaster aid for those affected by storms Helene and Milton in the U.S. Southeast earlier this year. It also includes a $10 billion provision for economic assistance to farmers. 

President Biden has not yet publicly commented on the passage of the legislation, nor has President-elect Trump, although sources tell Fox that the incoming president is not that happy about the bill, because it does not suspend the debt ceiling. 

House Speaker Mike Johnson, R-La., who faced criticism from both Republicans and Democrats for his handling of the negotiations, said after the House vote that the result was ‘a good outcome for the country.’ He said he had spoken with Trump and that the president-elect ‘was certainly happy about this outcome, as well.’

House Democratic Leader Hakeem Jeffries, D-N.Y., considered the legislation a win for his party. 

‘The House Democrats have successfully stopped extreme MAGA Republicans from shutting down the government, crashing the economy and hurting working-class Americans all across the nation,’ Jeffries said, referring to Trump’s ‘Make America Great Again’ slogan.

Former House Speaker Nancy Pelosi, D-Calif., praised Democrats, including Jeffries and Rep. Rosa DeLauro, D-Conn., for ‘their unity and courage withstanding the Trump-Musk irresponsibility.’

‘Democrats will always fight to protect the needs of America’s working families, veterans, seniors, farmers and first responders against the GOP’s agenda for billionaires and special interests.’

A bulging 1,547-page continuing resolution was thrown into disarray earlier in the week following objections by Elon Musk and President-elect Trump. A slimmed-down version was then rejected by House members on Thursday before the House approved Speaker Mike Johnson’s new bill overwhelmingly on Friday by 366 votes to 34.

The Senate worked into early Saturday morning to pass the bill 85-11, just after the deadline.

Senate Majority Leader Chuck Schumer praised the passage of the funding legislation early Saturday.

‘There will be no government shutdown right before Christmas,’ Schumer wrote on X. ‘We will keep the government open with a bipartisan bill that funds the government, helps Americans affected by hurricanes and natural disasters, helps our farmers and avoids harmful cuts.’

Meanwhile, Rep. Nicole Malliotakis, R-N.Y., said the revised funding package keeps government funded at current levels, delivers aid to Americans suffering from natural disasters and protects agricultural supply chains. 

‘Not only is this straightforward bill much more palatable to me, but it respects the taxpayers we represent, unlike the previous backroom boondoggle I opposed that was over 1,500 pages long and gave unnecessary and costly giveaways to the Democrats,’ Malliotakis wrote on X. 

‘Passing this legislation today gives us what we need until President Trump is sworn in and settled so our Republican trifecta can deliver the results the American people voted for.’

Rep. Mike Lawler, R-N.Y., questioned why President Biden appeared to play a limited role in negotiations.

‘People fail to recognize that even though the focus has been on President Trump, Joe Biden is actually still the president, which is really mind-boggling, because nobody’s heard from him in weeks,’ Lawler told Fox & Friends Weekend on Saturday, adding that the debt ceiling has been used as a ‘political piñata for decades.’ 

‘The party in the minority uses it as leverage in a negotiation, and I think what President Trump is trying to avoid is giving Democrats a loaded gun to hold to his head here.’

Elsewhere, House Oversight Committee Chairman James Comer, R-Ky., applauded the Senate for approving the D.C. Robert F. Kennedy Memorial Stadium Campus Revitalization Act, which he had introduced and helped pass in the House.

The bill would give the District of Columbia control of the 174-acre RFK campus and revive potential plans for a new Washington Commanders stadium.

The surprising move came after a provision in the initial continuing resolution (CR) — to transfer control of the RFK campus from the federal government to the District — was eliminated from Thursday’s slimmed down version of the bill.

‘The Senate’s passage of the D.C. RFK Stadium Campus Revitalization Act is a historic moment for our nation’s capital. If Congress failed to act today, this decaying land in Washington would continue to cost taxpayers a fortune to maintain,’ Comer said.

‘Revitalizing this RFK Memorial Stadium site has been a top economic priority for the city, and I am proud to have partnered with D.C. Mayor Muriel Bowser to get this bill across the finish line and to the President’s desk. This bipartisan success is a testament to the House Oversight Committee’s unwavering effort to protect taxpayers and our full commitment to ensuring a capital that is prosperous for residents and visitors for generations to come,’ he added.

The Associated Press contributed to this report. 

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    The Senate is expected to send a temporary spending package known as a Continuing Resolution (CR) to the White House, averting a government shutdown before...

    Investing

    Sen. Tommy Tuberville’s, R-Ala., colleagues pleaded on the Senate floor early Thursday morning – from midnight until nearly 4 a.m. – to drop his objection to...

    Latest News

    A bipartisan ethics report concludes there is “substantial evidence” that George Santos violated federal criminal laws, which will almost certainly trigger another attempt to...

    Editor's Pick

    Helium Evolution Incorporated (TSXV:HEVI) (‘ HEVI ‘ or the ‘ Company ‘), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan,...

    Disclaimer: Goldenliontraders.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 Goldenliontraders.com