The so-called “stopgap bill” is good until November 17th and there is no agreement on what’s going to happen next.
In his first major legislative challenge, U.S. House Speaker Mike Johnson grapples with internal divisions among Republicans over an unconventional plan to prevent a government shutdown starting on Saturday, November 18th. Some hardline House Republicans oppose Johnson’s two-step, new stopgap bill, reminiscent of the “clean” bill that led to the removal of his predecessor, Kevin McCarthy. The nation faces its third fiscal showdown in 2023 after a spring standoff over the $31 trillion debt. Moody’s downgraded the U.S. credit rating outlook to “negative” due to partisan gridlock and fractures within the 221-212 House Republican majority.
Johnson’s proposal, aimed at gaining support from rival factions, extends funding for various programs until Jan. 19 and others, including defense, until Feb. 2. It pressures Congress to agree on fiscal 2024 spending by designated dates. Democrats express openness to the plan, but the White House criticizes it as chaotic. Johnson warns of a full-year continuing resolution if an agreement isn’t reached. Despite opposition, House Republicans plan a Tuesday vote, emphasizing the need for unity amid months of internal strife and falling revenues. The political turmoil centers on a critical fraction of the total U.S. budget, around $1.59 trillion for discretionary spending in fiscal 2024. Johnson’s fate hinges on successfully averting a shutdown with possibly substantial Democratic support, learning from McCarthy’s removal.
