Connect with us

Hi, what are you looking for?

Smart Investment StepsSmart Investment Steps

Investing

Senate Republicans block Democrats’ ‘filthy’ counteroffer as shutdown deadline looms

Senate Democrats’ counteroffer to congressional Republicans’ short-term government funding extension was torpedoed by the GOP on Friday.

The bill, which varies drastically from the House’s proposal that passed earlier in the day, was filled with Democratic priorities that they say are the only sweeteners that would convince them to keep the government open. But the provisions were a bridge too far for Senate Republicans.  

The Democrats’ bill, which was unveiled late Wednesday night, failed 47-45 along party lines. However, the GOP’s CR will be voted on right after. The fate of that bill is in the air, given that Democrats have vowed to oppose it throughout the week.

The deadline to pass a government funding extension, known as a continuing resolution (CR), is Sept. 30, and lawmakers are expected to leave Washington, D.C., Friday night for a weeklong recess to observe the Jewish New Year, Rosh Hashanah.

House Republicans unveiled their CR on Tuesday and have lauded the bill as a ‘clean’ funding extension until Nov. 21. While it doesn’t include partisan policy riders, it does include tens of millions to beef up security measures for lawmakers.

However, Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., opted to go with their own version of a CR, not because they disliked what was in Republicans’ bill, but what was not in it. They’ve also dug in against President Donald Trump’s demand that Republicans cut Democrats out of the process. 

Their plan would have kept the government open until Oct. 31, permanently extended expiring Obamacare premium subsidies, undoing the ‘big, beautiful bill’s’ Medicaid cuts, and clawing back the canceled funding for NPR and PBS.

Senate Majority Leader John Thune, R-S.D., panned the bill and argued that the Republicans’ legislation was everything Democrats had pushed when they controlled the Senate under former President Joe Biden.

‘It’s not clean – it’s filthy,’ Thune said. ‘It’s packed full of partisan policies and measures designed to appeal to Democrats’ leftist base.’

However, Schumer has accused Thune of not coming to the negotiating table and directly engaging with him to find a path forward to avert a government shutdown.

Democrats particularly want a deal on the expiring Obamacare subsidies, along with some assurances on future rescissions and impoundments.

‘We’ll sit down and negotiate, if they will sit down and negotiate,’ Schumer said. ‘We don’t have a red line, but we know we have to help the American people.’

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Latest News and Articles




    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

    Stock

    Shares of Kenvue fell more than 10% on Friday after a report that Health Secretary Robert F. Kennedy Jr. will likely link autism to...

    Editor's Pick

    It’s been a historic week for precious metals, with gold nearly hitting the US$3,600 per ounce mark, and silver passing US$41 per ounce for...

    Stock

    The average rate on the 30-year fixed mortgage dropped 16 basis points to 6.29% Friday, according to Mortgage News Daily, following the release of...

    Stock

    David Ellison continues to put his stamp on Paramount after its acquisition by Skydance. The CEO and chairman told employees Thursday that they will...

    Disclaimer: smartinvestmentsteps.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 © 2024 smartinvestmentsteps.com