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Saturday, February 17, 2024

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

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 yr.

The White Home confirmed the transfer in a press release 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.

Dealing with that Friday night time deadline and with the Home beneath 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 package deal 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 yr 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, brought on Fitch Rankings to downgrade the nation’s sovereign credit standing and value 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 might not block the proposal as a way to keep away from a direct funding lapse.

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