Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  Johnson weighs plan B amid funding backlash Speaker Mike Johnson (R-La.) is weighing an alternative plan to fund the government before the shutdown deadline on Friday after Republicans inside and outside the Capitol slammed the spending package. © Greg Nash The House on Tuesday released a 1,500-page spending package negotiated by congressional leaders that included disaster aid and economic assistance for farmers.   But late Wednesday afternoon, President-elect Trump and Vice President-elect Vance slammed the bipartisan bill and called for a “streamlined” spending stopgap combined with an increase in the debt ceiling. “Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch. If Democrats won’t cooperate on the debt ceiling now, what makes anyone think they would do it in June during our administration?” Trump and Vance said in a statement. “Let’s have this debate now. And we should pass a streamlined spending bill that doesn’t give Chuck Schumer and the Democrats everything they want.” They added, “Republicans want to support our farmers, pay for disaster relief, and set our country up for success in 2025. The only way to do that is with a temporary funding bill WITHOUT DEMOCRAT GIVEAWAYS combined with an increase in the debt ceiling. Anything else is a betrayal of our country.” Elon Musk, who has spent considerable time with Trump since his election, wrote on X that any lawmaker “who votes for this outrageous spending bill deserves to be voted out in 2 years!”   Now Johnson is considering a "clean" continuing resolution, two sources told The Hill. The Speaker's office declined to comment.   The Hill's Mychael Schnell has more here.   Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.   Did someone forward you this newsletter? Subscribe here.   Essential Reads  Key business and economic news with implications this week and beyond:   Fed cuts interest rates by quarter point despite firmer inflation The Federal Reserve cut interest rates by a quarter of a percentage point Wednesday, in line with market expectations, even as inflation has reaccelerated over the past two months.  Full Story   Dow loses 1100 points after Fed projects fewer rate cuts The stock market closed with steep losses Wednesday after the Federal Reserve cut interest rates but projected higher borrowing costs and steeper inflation for 2025.  Full Story   Senate Democrats launch probe into Trump IRS nominee Democratic senators launched an inquiry Wednesday into President-elect Trump’s nominee for IRS commissioner, former Rep. Billy Long (R-Mo.).  Full Story   Elon Musk: Anyone who votes for spending deal should lose reelection Tech mogul Elon Musk continued his tirade against the newly unveiled end-of-year funding deal Wednesday, calling for any lawmaker who supports the continuing resolution to be voted out of office.   Full Story COMING UP The Hill's Evening Report breaks down the day's big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox   The Ticker  Upcoming news themes and events we're watching: The government shutdown deadline is Friday, Dec. 20. The personal consumption expenditure (PCE) index for November drops Friday morning at 8:30 a.m. ET.   In Other News  Branch out with more stories from the day: Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its … Full Story   Good to Know  Business and economic news we've flagged from other outlets: Johnson has a huge new problem: Elon Musk (Politico) Hidden ticket fees and vacation rental charges banned in America (CNN) How rich musicians billed American taxpayers for luxury hotels, shopping sprees, and million-dollar bonuses (Business Insider)   What Others are Reading  Top stories on The Hill right now: Social Security bill clears first hurdle in Senate  The Senate is plowing forward with consideration of the Social Security Fairness Act, clearing its first procedural hurdle on what supporters hope is a path to passage later this week. Read more Trump, Vance call for clean CR, debt ceiling hike, urge GOP to sink Johnson compromise President-elect Trump and Vice President-elect Vance on Wednesday called for Republicans to approve a clean stopgap funding bill paired with a hike to the debt ceiling, saying the previous government-funding measure negotiated by Speaker Mike Johnson (R-La.) should be torpedoed. Read more     You're all caught up. See you tomorrow!  Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Business and Economy newsletter Subscribe