House To Stay In DC Amid Shutdown Uncertainty

Democratic US Senator Chuck Schumer is seen as holding the key to a deal to avert a government shutdown

House To Stay In DC Amid Shutdown Uncertainty

On the Senate floor, Minority Leader Chuck Schumer pitched a very short term continuing resolution, to give senators a few more days to work through their differences, unlike the plan passed out of the House that keeps the government running until mid February, but initial reactions to that idea from McConnell's aides were skeptical, CNN reported.

The House voted 230-197 to pass the stopgap bill, which also grants a six-year extension to Medicaid's Children's Health Insurance Program and pause other levies enacted as part of Obamacare, including the "Cadillac tax" for two years retroactive to January 1 and the health insurance tax for one year starting in 2019.

The bill that's headed to the Senate might only be temporary funding, but it does include long-term funding for the Children's Health Insurance Program, or CHIP.

House Republicans tacked funding for the Children's Health Insurance Program onto the four-week spending bill in an effort to paint Democrats as obstructionists playing games with the health insurance of low-income children (though the CHIP funding crisis was engineered by Republicans).

Democrats have been demanding protection from deportation for young immigrants known as "Dreamers" brought to the country illegally as children. Republicans had the majority in the House, while Democrats held the Senate.

"I really believe the Democrats want a shutdown to get off the subject of the tax cuts because they're doing so well", he said.

"We had a long and detailed meeting", Schumer said.

ABC News says debate in the Senate was expected to pick back up Friday morning.

US government shutdown

During the 2013 and 1995-96 shutdowns, Republicans were blamed for grinding the government to a halt.

Sen. Pat Toomey (R-Pa.) said he's likely to vote for approval despite his reservations about the stopgap bill.

When the US Congress fails to pass appropriate funding for government operations and agencies, a shutdown is triggered.

Congress has needed to extend current funding levels, while congressional leaders haggle over how much to raise spending on defense and domestic programs and whether to give protection from deportation to at least 690,000 undocumented immigrants brought to the United States as children.

"The only people standing in the way of keeping the government open are Senate Democrats", Ryan said. Leaders of both parties in the House and the Senate continue to meet to discuss a path forward on the program, but a deal by Friday seems unlikely. "I promise you he doesn't have the votes", Representative Mark Meadows, chairman of the House Freedom Caucus, said.

Over the past year, the Democrats have shown no genuine interest in working with President Trump or the Republican majority in Congress on any issue.

"After reports of the vote, we saw continued, but muted, dollar weakness, pushing the GBP/USD pair back above $1.39 and EUR/USD nearer the $1.23 resistance level", he said.

Why investors shouldn't fear a potential government shutdown
Senate Majority Whip John Cornyn said he expects the Senate will vote on on a debate-limiting motion with time to spare on Friday. So far, there has been no word on whether a similar retroactive pay would be dispersed if another shutdown occurred in 2018.

Pentagon: US military advantage over Russia, China 'eroding'
Mattis said that US defense strategy will also be shaped around halting rogue regimes such as Iran and North Korea. The new plan can not survive, Mattis said, without needed and stable funding.

Justice Department asks the Supreme Court to give final say on DACA
Supreme Court to directly review an injunction requiring the Department of Homeland Security ( DHS ) to restart the program. Attorney General Jeff Sessions said Tuesday that Judge Alsup's ruling "defies both law and common sense".

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