There’s good news for the economy and federal workers this week, as it seems increasingly likely that Republican Senators will do whatever is necessary to avoid another shutdown in February.
The longest shutdown in history may have ended last week, but current funding is only available due to a stopgap measure, and it will run dry on February 15th. The President has tasked lawmakers with reaching a new deal that would fund the government beyond that point.
While Trump’s $5.7 billion border wall remains a contentious issue, comments from Senate Majority Leader Mitch McConnell indicate that his party will work with Democrats in the House and Senate to pass a bill that all can agree on.
McConnell Tells Lawmakers to Get it Done
Congressional meetings are already underway to reach a new deal on government funding beyond mid-February. McConnell reportedly told attendees of a meeting this week: “We’re praying for you. Get this done.”
The Senate leader has made no secret of his disdain for government shutdowns, and he has been in government for long enough to know the negative impact that they create.
Senator John Cornyn of Texas said this week that “He’s [McConnell] said it publicly and privately. He thinks shutdowns don’t work. Nobody wins and that’s not what we worked so hard to get into the majority to do, to shut down the government. We got the majority to govern.” Cornyn also hinted that Republicans would be willing to accommodate Democrats if it meant a favorable outcome, saying that Congress needs “to talk, to negotiate, and to compromise.”
An increasing number of Republican Senators have publicly sided with McConnell in his push to avoid a follow-up shutdown. Senator Pat Roberts has said that preventing a new shutdown is “an absolute necessity.” Senator Ron Johnson said that there’s fatigue in Congress for shutdowns, and that “There is a strong desire to get this one behind us.”
Will Republican Senators Vote Against the President’s Wishes?
President Trump said on Wednesday that “If the committee of Republicans and Democrats now meeting on Border Security is not discussing or contemplating a Wall or Physical Barrier, they are Wasting their time!”
Despite the President pushing to have funding included in any proposed bill, Senators could go against his wishes, forcing him to find an alternate source, potentially through the declaration of a national emergency.
The recently ended government shutdown cost the economy $11 billion, and the Congressional Budget Office advised that $3 billion of it will never be recovered. Federal workers, and much of the nation are anxious to see a new deal that removes the threat of a new shutdown in February.
The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports. You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy. |
The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports. You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy. |