Government Shutdown Looms as House of Representatives Fails to Pass Funding Bill
  • 7 months ago
The House of Representatives went into recess on Thursday, likely preventing a bill to fund the federal government from passing before the end of the month deadline. House Republican leaders including Speaker McCarthy are struggling to unite their caucus around a short-term funding bill to avoid a government shutdown. Republicans want broad budget cuts and policy provisions like on border security, while Democrats support levels agreed last summer and money for Ukraine aid. Investors are concerned that a shutdown could reduce economic growth and undermine confidence in the U.S. government's functioning ability.
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